Member Info for Professor1

MP -agree. They would have been in discussions with Newmont about 2019 plans soon after the settlement with the creditors so news is overdue.

Hopefully Omi advertising on Proactive etc should begin this year as mentioned by Mr Salazar now that the creditors settlement in Uruguay has been reached

As per the video link, rarely does a company strike twice BUT Omi has done that and that speaks volumes.

987 / SL

I firmly believe that 2019 plans would be announced soon. I also think that NM would not wish to wait drilling as they need to demonstrate to their shareholders that this is accretive to their resource base and therefore shareholder value.

Hi 987

Thats really informative. Very much appreciated. Will keep on topping up each month and collect as many shares as possibly can.

With regards to your last point, I believe the doors are very much open as far as exploration goes in Uruguay. The only question would be if Mr Salazar is going to pursue the Greenstone belt over there hard then is he going to raise some sort of funding in the near future?

https://www.youtube.com/watch?v=N_V62ME3sPA

Link over from GGP site

SL

Agree. The other thing I keep thinking about is what Mr Salazar mentioned to Bhargav at the AGM - that once creditors settlement issue was agreed ( which now is) this is going to make them (the management) and us a lot of dosh. I wonder if he was alluding to an early buyout by Newmont? My own personal belief is that we might be taken out by NM sooner than we think.

SL

They must have by now completed discussing plans for this year. Watch this space

MP - great find. Hoping takeover comes sooner but at the right price

The plans for 2019 should soon be revealed - I have a strong suspicion Newmont will start with the high priority target identified by Omi at Charrascala.

Unlike in the case of Omi where we have Newmont on our side, Juniors have the worst odds it seems outside of a lottery ticket - roughly only some 2% go on to developing a mine. Just shows Pis have got to appreciate what we have got here in Omi

Webbs

We will definitely get there.

Indeed MP

Webbs

I moved a big chunk of my holding out of GGP and into Omi for several reasons, some just covered by other posts today. Assume GGP finds 5m ozs and assume the recovery rate was 75% i.e. 4m ozs. At $40 in ground value(which I think would be at the high end for an underground mine), that is $160m value. At $1.2 thats £133m. Their current market value is £75m. However, it comes with much much greater risk than Omi I believe. With a similar find, it is my opinion that we are likely to race ahead.

The only question that is bugging me is how much do Newmont already know given that they must have done very extensive due diligence and the basis on which they can state, in their financial statements, the investment in Omi as a portfolio improvement.

All will be revealed soon

Repeating what Newmont press release had said under PORTFOLIO IMPROVEMENTS

" expanded regional exploration activities with an investment in Orosur Mining ".

The key to note the investment is regarded as Newmont's Portfolio Improvement.

Johnny

Newmont sells the shares and drops the deal?
Why did they do the deal with us in the first place- only to sell the shares later?
They acquired 20% interest in Buritica - was it only to sell the shares later?

Many thanks to everyone for excellent posts

Hi 987

Many thanks for your excellent summary

Newmont and Goldcorp tie

Hi all
I wrote to Mr Salazar on the marketing front with Proactive Investors and the like and received a reply straight away. It was purely a cost cutting measure but following successful outcomes with NM and in Uruguay, we should see progress on marketing front in 2019