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Dr, I don’t doubt that $30 m has been spent but there hasn’t been 30 m of drilling sorry.
In regard to earlier post , $m was part of the deal to go to next phase . This is what has enabled them to get nsr and up to 15 m . We will obvs disagree.
Anyhow it is what happens from here that counts for holders. I have added this week but keeping average below 4 p and looking for a little unload asap so shouldn’t moan about the pumper invasion lol.
Good luck
Https://www.bnamericas.com/en/news/colombia-to-stop-granting-open-pit-mining-licenses
Can’t wait til next week when all the noisy little oiks have left.
Well glad to see progress. Would expect some more moves when completion. So as I thought Newmont don’t hand over $2 m for nothing. Basically $2 m buys a nsr of 1.5 of total production and up to $15 m . Not bad for$2 m !
To be fair don’t think Omi had much option . The best deal in the circumstances but let’s be honest the j/v has been a costly affair that hasn’t really produced much and has wasted a lot of time. I see peeps claiming that $30 and now $40 m have been spent on drilling. No. If 30 or 40 m had been spent on drilling they would have a defined resource. Some of it is on drilling but as Brad says it is very expensive to hold land and one look at the cash burn here for the last 3 years tells you that much goes not on the drill which is quite common in these explo companies.
Bought some today and a few last week. Still not in big time but am today just in profit . Interested to see what happens tomorrow.
Some wishful thinking in Brads interview . Producing in 7-8 years Hm 10 more like. I will believe the completion time and drilling dates when I see them but today is a decent start, now we wait to see how this will be funded.
Well done Karl and any body else taking advantage last week. Good luck longtermers.
Hi slowly, what are you super confident of exactly? That Mellon will get a deal above 15 p ?
Would certainly hope so. The question you are not asking is, if he didn’t exercise his options, where would the cash come from to carry on. The open offer was the first that was undersubscribed ! Mellon will be ok at any price above today’s s p my, I am super confident of that.
Will a deal transpire before the need for another raise??
Break, legal matters take years . You do not know what Brad May have signed to get his hands on $2 m. I just do not see nm giving $2 m for no reason ?? I don’t believe little Omi could afford legals on top of wages. Nm could bankrupt Omi with their hands tied behind their backs.
Karl, I have an open mind to what may happen. For sure we are way behind the curve whether to the good or the bad regarding the real situation just as we were with the j/ next stage. Personally I did sell most longtime since from around 8 p. I hold back from burying much cash back in here until the situation is clearer. It won’t surprise me if the present impasse carries on for some time , meantime the bit of cash in the bank disappears and another placing before year end . More cash wasted with no real progress.
I add a few on pullbacks. waiting to see how much lower this goes. This is very high risk and doesn’t deserve high ammount of my cash when there are far more guaranteed options elsewhere. Fortune does favour the brave sometimes just as trying to catch the falling knife is often folly.
It may well be hard to buy here when news lands it has to be said. However getting the asset back is one no mean feat , funding it going forward is another. None of the bod is known for financial wizardry to my knowledge.
Good luck and hope your positivity is rewarded.
Or £58 m if you want it in brexit. How much cash do you think calibre need for their new projects and ongoing explo etc. just remember Simms , calibre paid $100m for the two mines they bought and have been making cash ever since I don’t think they will want to pay what many here hope for. The raise was for exactly what it said on the tin and I think it more likely rules them out!
Karl, everything plummeted at covid onset . It was a flash crash. Bitcoin hit $4 k then hit $68 k little more than a year later. It was a buying op that many of us partook including the covid stocks. Timing being crucial as ever.
Imp, although I had a quick iny pity in ggp I regret not leaving half in but never really considered ggp longterm because of mr Bell having been involved early. A prime example of ceo who sucks the life out of shareholders in his lifestyle company rrr and previously rgm. Hard lessons learnt under his tutilage in aim.
Orlando. In the case of an asset sale I can imagine a suspension being possible. All relevant costs taken out then divided by the number of shares which would probably include a number of warrants and options . How many would be cashed would depends on the bid price. Any in the 40s would probably not be cashed . There are a number of costs to be deducted including marks undefined reward hannan fees and I believe a 15% tax in Nicaragua . A full takeover more straightforward but costs still apply.
Currently there are around 200 m shares but could be up to 220 m imv . So a £100 m sale will not clear 50 p in any scenario. Personally I don’t see a bid being much north of £100 m.
I believe nica gvnt will have a say in where this goes and I cannot see any reason why they would want it going anywhere but China. I would be happy for calibre to be the aquirer having a holding there but just can’t see it
Nice little move today but then most of my goldies put on around 5% so not sure if this is a news related move but here’s hoping.
Concur slim. I also imagine Ortega wanting to steer it away from the imperialist gringo establishing a new force in nica mining. Book5 recent comments re co op making some sense. The ministry of mines will have final say in any deal imv . Easter fast approaching and another holiday period 8 working days left.
Dr, yes we agree that the j/v avoided the need to dilute . Well not quite. However, very little of value enhancement was achieved during this time and now the confetti printing has started and will continue. This placing shows how little they can raise and the astronomical cost. 25% discount and a full warrant share per heavily discounted share just reflects the weakness of Omi position. $500 k will achieve naff all and there will be another raise this year. It still remains to be seen what costs will come with divorce. Would agree that collective and Omi are totally different beasts , one with respected bod that can attract the finance needed at no discount to prove up multi m oz resource. Peeps here talk about multi m oz resource as if you can do it on a shoe string. I just cannot see how this bod raise the needed finance and the recent placing us pretty good evedence of that.
I have never seen a placing at Cnr with such a discount or a full warrant attached. That is a company that is a reasonable comparison as far as I am concerned.
Outcrops recent placing doesn’t appear to have a discount either. Still not a decent comparison?
Here is collective recent 18 m placement to do 40 k m drilling. No discount and a half warrant per share
https://markets.ft.com/data/announce/detail?dockey=600-202403040900CANADANWCANADAPR_C8874-1
25% and a whole warrant is giveaway and only equalled by hopeless cases like alien.