Omai Financing coming Omai financing coming. Streetwise reports and prospector news are both promoting Omai, but the said they company is looking to raise money soon.
"The cash position is estimated at C$3M, with no debt, and management is looking to raise more depending on drill results. For the last 12 months ended December 31, 2021, G&A was C$3.3M, which was substantial, but still acceptable as exploration expenditures for the same period came in at C$5.2M."
Why would Omai management they say that now and in print. No chance the price will recover now as investors might as wait for a financing
Also I can't believe they need $8.5m for another year. assuming Where has all that money gone????? How does a junior spend that much money for drilling a known target at Wenot and no money spent on looking for new deposits. I am in shock as I missed that spend. That's why Silvercorp is not investing. They must be outnumbered at the board level as they are not big spenders.
If they need that much money a year I am looking at 25% or more dilution now. This is becoming a complete joke. Their salaries and pay scale must be out of this world and paying themselves New Gold and Richmont salaries wasting my investment dollars.
dead end street for share price appreciation now as financing will be done at a lower price I bet.
https://theprospectornews.com/critical-investor-omai-gold-mines-looking-to-revive-once-largest-gold-mine-in-south-america/