49 North Continued $$ Issues Issue for OMM Refer to the latest press releases from 49 North - FNR - continued $$$$ issues with their Debentures and restructuring, Plan 1 appears to have met strong resistence and yesterday they announced Plan 2, with an indication that more plans might be forth coming.
These issues are important ot OMM and Financials for the proposed CVG project and also question ??? can or will this CVG deal go forward. Fund Raising that require moe than $10 mil plus to bring into production, don't forget to add in cost over runs we see with other projects.
Bottom Line - OMM is Dead Money Investment for years if they proceed with CVG. But, if some how OMM can walk away from CVG and actually find a less risky project, in this down MKT, things could be better for OMM's Future. This is where MGMT and Tim need to rethink and break away from FNR and CVG.
One thing, Tim and MGMT should ask Tom MacNeill and Andrew Davidson to step down from the Board.
OMM - under 4 cents is our projections for this stock.
All the above in my humble opinion.