All InDaily volume keeps getting thinner so I finally decided to pull the trigger on my 10% cash reserve and increased my stake in OMI from 12% to 22%. I would liquidate my other holdings and buy more, but over 10 months worth of consolidation suggests the trend could stay flat with little downside risk. However, upcoming news flow could be the catalysts that catapult the stock to higher levels. Fundamentals are only getting better. The stock has lagged spot gold as well as other producers. Management keeps meeting or exceeding targets. Exploration is proving to replace and add resource ounces. Balance sheet is stronger than ever. The only knock against the company is that it is not well promoted. Behind the scenes, I'm sure OMI is a takeout target that isn't getting any notice by the market.
Potential news flow:
1) FYQ1 production update (anytime)
2) Final Arenal Deeps permitting and development ore (September)
3) Anillo drill results (end of September)
4) FYQ1 financials (early October)
5) Pantanillo metallurgy optimization update (calendar Q3)
6) Vaca Muerta resource update (calendar Q3/Q4)
7) Completion of tailings dam and ventilation (calendar Q4)
8) First ore from Arenal Deeps stoping (calendar Q4)
9) Pantanillo resource update (calendar Q4)
10) Pantanillo complete scoping and baseline study (calendar Q4)
11) Maiden Talca resource definition (calendar Q2 2012)