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With regular occurrence unfortunately
Agree directors will be in a closed period but after this they wont be but brad will say we know info any excuse not to put your money where your mouth is. Hopefully brad will be in talks with a JV partner too as he must know that we are getting part or all of project back as he would not have been so positive early December and at the AGM.
Still think Newmont board will approve deal so could take longer than we think til next board meeting unless already approved and just waiting for it to be made legal. We keep mentioning newmont but wonder what Agnico thinks.
It may help if Ben could attract buyers, maybe they will when the finally release a positive RNS without this and that is holding things up...
Quite a few years ago a mate of mine did a punt on Sol gold at 1p it went over 43p and valued company at 700m. Their current market cap is £238m and they have 3billion shares in issue at 7p. We all know that the miners have been severely depressed for last several years. Some experts say that the miners have never been as cheaper in last 40 years. lots of them 90% down and more. While bitcoin explodes the miners have sunk massively, The us stock market also exploded and gone from 5,000 to current 38,000 in 15 to 20years thats a several fold increase.
The uk stock market in same time 20years has barely gone up. What does this tell us. Is the us stock market over valued. Gold has doubled in last 10/12 years from a low of around 1100 to current 2030ish. the gold to dow ratio has been as low as 1/1 3 or 4 times in last 100years. its current ratio is 19/1 infavour of the dow. In 2011 it was 6/1 so either gold is massively undervalued or the dow is massively overvalued.
Some on here say omi is fully valued in comparison to other companies but i say we are in a massively depressed market atm and at some point the miners will explode thats why smart investor like singred is buying and holding.
GGP went from nothing to 1.5Billion market cap. Im first to say it was massively over valued as it was valued alot larger than most 200k and 500k producers at the time.
As seinged says you have to compare apples with apples which is true but the market is massively depressed and at some point it will explode and omi could be worth alot more than £5m to £10m current valuation.
As Ive said before the board will need cash, to support other omi projects and so will need to raise lots of shares during the year. So as bhargav says the news flow will come in Q2. Also we need a good JV partner who will want a large piece of the Anza if they gunna sink in millions to drill it.
It would be nice to see the directors dig deep and put their own cash in the open market as opposed to just issuing themselves with share options. the price in last few years has dropped from 40p to 2p so I say Brad louis put your hands in your pocket and show faith like the rest of us and dig deep, people will respect you more if you did.
Good luck all.
Your spider senses tingling again Chicken, I hope youre right but it could take longer than we think all guess work from me. Also we need to have JV partner to proceed and they need deep pockets. We also need lots of cash for other projects.
I hope the share price flies but lots of hurdles to cross.
Brad indicated early in December interview that he wanted the project back he would not be so positive to say that when we had been waiting for Newmont to complete the JV. Again he said at the AGM that he wanted the project back or strike a deal. We dont know what the deal is and can only guess. he was very positive about this.
We still have lots of obstacles to cross ie if we do get project back then need a partner who will spend big time on Anza but they will want a big share of the pie. Also at some point maybe May June or July Q2 or Q3 we have to raise cash to support other projects.
However, Newmont and Agnico had done alot of work on these sites which I hope will be given to Brad lots of soil samples etc we have additional drilling as well so lots of positives.
But we need a great partner to takeover where Newmont left off and its a fact we need to issue lots of shares. What you say Seingred.
Well done to all those who bought in 2s and 3s and 4s and now 5s.
Think we got lots of positives here, a strong bull market in gold will help. Good luck all.
As Ive said Brad and co may have agreed a plan but it will have to go to Newmont Board approval. Big companies take ages to agree, next board meeting maybe in late January so maybe feb before we hear something.
All guess work from me.
I can only guess but some sort of deal must have been made by now as I said earlier Newmont will want to get approval from board before its announced.
Long over due as you ve said RNS will be in abundance in second quarter of this year.