Member Info for Yelacoirii

Shares seem scarce but there is still a lack of buying pressure. If you believe other posters (and its generally not a good idea) almost everyone investing in the share is talking here and that isn't enough. OMI needs to get a wider audience - which either means either a puff piece in a popular location, or better still further positive news.

Unfortunately I suspect this may drift due to the typical psychology of people buying at 9, get upset it didn't double over the afternoon and then sell up at 8. Rinse repeat and OMI could easily drift to 6~ over the next few weeks. At any point however it could also go to 12+ in a couple of hours - and its likely to do so at some point. Unless you are going to sit here 24/7 good luck catching the bottom, and it will likely be impossible to buy any volume then anyway.

Hold plenty of these and hope it goes up.
But saying "it was 18p before Newmont" is meaningless. It was 18p when Uruguay was working and they prospects in Chile. Now they have neither. This is now almost a pure Anza play unless gold sharply recovers allowing Uruguay back into production. Anza might make Omi worth millions, I certainly hope so, but the share price last summer was for a very different company.

Not sure about an hour, but its been NT here too.

It might not be wound up, but this company is on the rocks. In brief they have spent a fortune over the last two years and have very little to show for it. Chile was an expensive road to nowhere. SG UG hasn't worked out as planned, despite $millions in investment. Seemingly there just isn't enough gold. They have warm words in Colombia but no mining. Now they are shutting down SG, which means effectively ceasing to be a producer - although given it was so inefficient and they have haemorrhaged money over the last 18 months perhaps that isn't the worst thing. Its hard to see what options this reorganisation can bring though - or at least how they would benefit shareholders. I mean who wants to buy a gold mine that doesn't work? I guess they can break up the equipment and run through any inventories but barring a move up by gold to around $1400 in the next few months I don't see an upside. Without Loryser they have no money, lines of credit, or seemingly permits to mine anywhere else. They have some prospects and that's about it. This leaves the company at an impasse. Gold explorers are not worthless - but they are much smaller businesses. Will OMI be able to cut an overhead which has ballooned dramatically?