Post by
Newmetals on May 26, 2022 10:34am
Omai - impossible no cash is left!!!!
Didnt we just raise $2.6m and the financials are saying there is zero working capital. The company is burning at least $5m a year based on the last 3 months (that is with no drilling). This is insane. Omai will need to raise $5m at 5 cents shortly. Where has all this money raised gone!!!!!!!!! https://ceo.ca/content/sedar/OMG-20220525-Interim-financial-statementsreport-English-db5e.pdf
Comment by
rockmoney on Jun 27, 2022 12:24pm
Insane is right. I had no idea the cash has been burned with little drilling completed. They need to stop the crazy burn yesterday. This company is effectively dead. Let's get some residual value out of the corpse and let a larger more competent group develop this asset.
Comment by
stanem1 on Jun 29, 2022 2:38pm
GCM mining should buy,they bought TORO
Comment by
rockmoney on Jun 30, 2022 12:06pm
Yes. Even with a small premium that would be better than leaving it directionless under the current managemnt.