NO TAKERS CVG - SMALL & ? NOW ITS OMM & ?From the start, CVG had serious issues in mining, had a history, refer to records/history, then it was decided after a review to mine the property another way. It was a small project. FNR / Tom M. decded to try and find a buyer, at the time he was looking for $50 mil, a number tossed around by Tom. Based on discussions and public comments at public meetings and conferences.They tried hard in North America and Europe to find a buyer/investors but NO TAKERS.
FNR/Tom & EPL/ Tim T. who are very close, decided to form a company that CVG would be put into, OMM. During a company discussions with investors and etc. and in press comments, Tim advised they would need in excess of $10 mil, factor in the usual cost over runs we always see. Unfortunately due to the small project and MKTS and Financial MKTS so far their is nobody willing to provide the funds.
OMM is in competition with many other Resource companies that are seeking $$$ and attention of investors. Also, there are many companies Large and Small unloading assets,, including more advanced stage and larger properties and producing properties. OMM is in competition with these asset sales.
There is a poster who has been pumping and promoting OMM. He is well known for his love of selling paper. So Caution. Do your own home work. Research the history fo this property and comments by FNR and Tim T of OMM on this project.
If at the PDAC stop by the FNR and EPL booths and ask questions.
All the above in my humble opinion and based on public comments by both FNR/Tom M. and Tim T of OMM and EPL and MKTS and FInancial MKTS.