Member Info for Yelacoirii

News is all fairly predictable.

Really my concern - and I guess we won't know until the next monthly update - is cash burn. $2m might last the team if they are down below 20, possibly 15 people - but it isn't that much. OMI should be able to survive on NM's stipend for the years to come - but it will leave relatively little for any exploring.

Guess its hoping NM pick up the pace - which is probably dependent on their own reserves and the gold price.

Unfortunately the average AIM punter makes a living from buying at 7 and selling at 6 until they run out of money.

Sometimes its easier to be patient when you are in the black.
Its a tiny increase really - but if this was floating around 7.5-8 (or better still around 9-10) I'd feel a lot happier even though it wouldn't prompt me to take any different actions.

I'd have thought because the company essentially is "Anza".
If things in Uruguay were still ticking over the company could be more patient - but really they should be wanting to show the market that they have an asset which is hopefully worth hundreds of millions (or billions or whatever).
This would hopefully put a rocket under the share price - but would also facilitate raising any money which might (re: will) be needed on the way (regardless of whether or not Newmont are willing to fully fund this).
It would give OMI more power in that relationship. I mean its not as if I'd be terribly upset if Newmont were to buy the company out for say 30p/share - but obviously I'd prefer 300.

Not sure if this is the done thing - but the 3k and 5k buys around 8.27/8.33 were mine.
Thought about buying another 7k - but blanched at being offered 6.25 and thought we might see a sell into the rise. Feel a bit silly now - but at the same time I probably have too much in this share anyway.

What's happened is that there has been relatively little buying pressure, and this has resulted in someone (or various people) selling around 100-200k shares each morning and this results in the share price falling 5-10%.

If you wanted a technical response I'd say its that people are concerned about cash burn - or what the fallout will be in Uruguay - and the fact Anza is weeks away from reporting anything.

Really though I think its just sentiment. This is likely to drift and drift - and then three bag in an afternoon. Or ten bag on news.

Probably the Chinese.
If China stops buying US Treasuries their currency will quickly appreciate. Ditto if they back it to gold when its on the rise (if it is). That is going to wreck an export-orientated economy. The Chinese government can't handle a proper recession when its credit was almost all expended bailing themselves out of the last one.

Really while its been a perennial dream of the goldbugs the likelyhood of a gold backed cryptocurrency taking on the dollar is incredibly low. It doesn't serve a strategic purpose.

"Yay, 6.2 was trying my nerves."
"No! I should have bought more!"
The instant lament.

The issue is people buying in thinking this was going to go to 12, 18, 80-100p by Christmas are now thinking "oh wait, might not happen" and selling up. At the same time buying pressure is very weak. (With respect to those posting here that they have bought in, you seem like the only ones).

While its sobering, there were no surprises in the last RNS. Omi is now almost a pure Anza play - unless the gold price rockets to a minimum of 1350, possibly 1400 by December in which case Uruguay might be worth something.

The project is now effectively in Newmont's hands. What shareholders should want is either
A) More drill results showing high concentrations of gold over a wide area.
B) Most importantly - that Newmont are going ahead with the Phase 1 earn in. While it might not happen, that probably should arguably double Omi's share price from this level at least and potentially get the ball rolling.

The danger for shareholders (and especially get rich quick types) is that Newmont will sit on this for 2 years, letting Omi burn through cash by just existing.

I said before that blaming MMs is a bad road to go down - but there is something annoying in the price barely moving at people buying £40k's worth - but then collapsing 10% because some other people want to offload £20k.

If gold prices rise to $1400+ then plenty of gold shares will jump. Not sure on the cap - but I think OMI was about 80p/share when gold was over $1800.
Right now though Omi is basically Anza and a bunch of borderline worthless assets (at $1200/oz).
So to get a figure of "Omi is worth $100m" Anza would need to be worth about $500m, since Newmont would get 80% of it.
And it might be - but it won't be worth that based on getting any gold out of the ground next week, next month, or even next year.
But then people look at Solg and not unreasonably say "why couldn't it happen here" (imo Solg is considerably overvalued except as a potential takeover target, but what do I know.)

In the short run another excellent drilling results RNS or a statement from Newmont that they are green lighting phase 1 investments are probably what we are looking for.

Pressure seems to be building but it keeps bouncing off that 10p mark. Be interesting to see whether it breaks this afternoon or whether there is a slight pull back for the weekend.

A touch under 400k of II's shares are mine.

100k really isn't very much. Its the equivalent of around £9k. So sub 0.1% or whatever of the value of the company. Unsurprisingly not putting a huge amount of pressure on the price.

Really this needs some news or a social media ramp or something. The price isn't going to fly on tiny volumes no matter how much people keep saying there are only so many shares in free float.

Blaming MMs is the first stage of being disappointed, but it does seem like weird behaviour. The price seems glued to the 9p mark, and while you see moderate runs of buys, the price is promptly collapsed by just a trickle of sells.

Maybe there are some big sales that will come through after hours.

Looking forward to when Chicken gets here and he explains how he could buy at 8.85.

When I'm a millionaire due to always buying at the lowest point and selling at the highest I hope I spend my days ramping, then deramping, then ramping again on forums.

What, reducing the price when there is minimal buying pressure to speak of?

I want this to go to 12, 20, 80, whatever as much as any other holder, but if no one will buy at 8p its a bit strange to assume people will be falling over themselves to buy at 12.

If the number of shares was very low then discrete liquidity might be a problem.
I am not convinced however there is much difference between 150 million and 3.5 billion, unless you think holders are happy to own X number of shares (as opposed to however much they get for £££).

I find the idea weird that someone would go "I want 100k shares in OMI, in GGP, in Solg etc" without any idea what 100k shares represents and just because 100k sounds like a round number.

If gold goes back towards $1800 then all holders of almost any gold stocks will be laughing.
I wouldn't hold out for that though.