Member Info for rejucht

Hope you're right or something is seriously wrong and threaten GRID business model and some people know this and are unloading shares at any price. If the nav is as stated this kind if discount would suggest alarm bells. I've invested recently as all the information in the public domain was positive that I could read. Why isn't the company making a statement about the recent sudden collapse in the share price?

I agree I bought before Christmas as the GRID sp looked stable with solid support from NAV and dividend. I had read somewhere the dividend was not covered but only by a tad. Clearly way off analysis as the Jefferies note I saw today on another chat reported it was very uncovered. The free fall since I bought (I'm down 25%) to all time lows surely warrants a comment by management at least to know where we are. One otherwise must conclude something is badly wrong but not yet known publicly.

The Jefferies note reportedly suggests very low dividend cover. Could this be cause of drastic drop? Surely BOD should say something?

I made the same mistake as the GRID story seemed a very convincing renewable friendly one and the share carried a good dividend albeit uncovered. The share has been on daily free fall since my ill timed entry and what is disappointing is no announcement by BOD to explain this drop to now all time lows. Am also tempted to average down as it is seemingly at a huge 40% discount to NAV but without assurance from the company it is solvent best to stay out I think.

JTS13. I agree I've only recently invested having read an optomistic Annual Report to see a 15% drop in SP. The dividend is uncovered so maybe we will shortly see a cut aa earnings have not recovered for BESS as anticipated and with the fall in gas prices it is cheaper to switch on gas fired power stations for 6 hours than short balances coning from GRID batteries. I am debating whether to average down but will stay out till I understand better why this rapid fall in SP over recent weeks.

Can you add me to Telegram group. My user name Rejucht

Looked to possibly open a Tallymoney gold backed account but the company website states they are not opening new bank accounts at present but there is a wait list. Does anyone know if this is good news ie too many new applications and no gold storage available to meet demand or if the company is not able to function properly through staff losses and so impending financial disaster disaster. I am a long term Lionsgold Shareholder and no idea if my shares will ever relist but had written off the investment but the debit bullion linked card launch and Deccan gave me some hope might get some of my money back as CP finally seems to be delivering.

If Brad replies on behalf of the BOD can you share his reply. I've been a shareholder for over 10 years and this latest bad news is very disappointing and seemingly the end of the road if the company becomes insolvent as its main asset remains dormant and cash drains away. Can there be an EGM convened to challenge the Board to explain how OMI can now still survive longer term?

On a day gold rallies over 2% OMI share drops 5%. Totally counterintuitive.

Ok thanks for the clarification. I don't follow the chronology or tabulation of the assay results in detail. Let's hope we get some new positive drill results soon. I've been invested for a very long time and had written them off so pleased the long wait has finally paid off .

Can anyone help us interpret the OMI drill results just published which seem to confirm both gold, silver and zinc in very different concentrations. I don't remotely know how to value such ranges. Anyone out there more expert. I've held these shares for a decade so already delighted to have recovered my losses!

The drill results look good as I understand anything above 8g/tonne is classified by World Gold Council as good grade ore. Anyone out there more expert prepared to comment further on the assay results just published.

I do not wish to be a party pooper but those here who think that Hargreaves Lansdowne are institutionally buying this stock are I think incorrect. The brokers and banks appearing on the shareholders register as big shareholders are acting as nominees holding the pooled stock for maybe thousands of individual small shareholders who broker through them and I doubt any one of them have invested in the stock themselves as why would they. I maybe be wrong but am pretty confident this is the truth! Anyway I have held the stock from Uruguay Mining days so delighted I have finally recouped my losses.

Does anyone know in the absence of any Gold price significant movement why OMI has dropped like a stone today?

Thanks BunkerM for OMI technical charts point of view. Im keen to average down having bought much higher but not if this is a dead cat bounce and it will be back south of 10p. Ill wait and see what emerges but nothing worse than piling in only to see it cheaoer the next day!

Frustrating as I had a limit order with MMs to average down by purchasing just below 8p last week and wasnt executed and its been rising ever since but has a very long way to go to reach my average price. I understand this company has a mining production cost of c 950 USD/oz but then theres all the admin costs which maybe add another 200usd so we need c 1100 USD to break even and many are predicting Gold in next two years below that hence the depressed OMI SP. Anyway I am waiting another dip to around 8p before buying more!

I too as small shareholder have been badly disappointed by this stock SP collapse. My understanding that at these levels of Au price the company is breaking even or perhaps even losing some due to its high overheads and previous management high spending approach but I agree that we are now in share option price levels on a recovery on Au price or a successful cut in overheads and mining costs. I agree tempting to average down but always nervous of throwing good money after bad!

I have to say the resignation of several diectors and collapse of the SP makes me wonder if something untowards is going on as according to the accounts OMI should be still making a profit after tax equal to the entire capitalisation of the company. I hope there is nothing sinister in all this as such a drammatic change for a profitable company with production is unusual to say the least.

I am a shareholder chan so thanks for the link which suggest they have doubled their proven reserves to over 400000 ounces which with gold even at 800 usd means at least USD 80 million dollars profit over the next 5 years which for a company capitalised at 14 million usd with 10 million usd in the bank and the works programme funded seems pretty reasonable. Would you say this is a good gold play (I want an inflation hedge), or do you or sovereign know better ones out there.