With Sino 2 alluvial results for Q1 2019 now known with expectations of even better results Q2 2019 it’s down to Omnia processing of Guy Fawkes area hard rock of the Manica prospect that interests me .
Then there’s those placing shares from 25th July 2019 RNS entering market around 25th August 2019 that’s going to hold any news regarding Omnias progress back . I feel a great many of the 83,333,333 new Ordinary Shares have already entered market and reason SP has been held around the placing price . Might be lucky and get some below 1.20p /share but Mr. Colin Bird is also aware of this having bought 1 million shares at 1.108p per share on 2nd August 2019 on last ( MM ) tree shake .
Thankfully those placing shares raised £1,000,000 (before expenses) but not to clear debt , pay wages , etc … but were issued to raise capital for further development of its exploration and development projects in Mozambique and Zambia and provide additional working capital . Mr .Colin Bird, Executive Chairman said , " The funds will be utilised to ensure operations advance at a pace to further enhance shareholder value ".
So with that in mind I’m looking to buy on any tree shake done by the ( MM’s ) before next Monday since the placing shares will be in market by then . Doubtful held in shorts either since the share price has dropped from 2.07p /share to 1.20p /share on what in my mind is good news just need to get those placing shares all bedded in .Then with a drought happening in Zambia and fine weather in Mozambique drill operations should be unhindered along with hard rock processing by Omnia and Alluvial processing by Sino 2 in Manica , Mozambique giving a healthy revenue stream to a debt free established Gold mining / Copper , Gold exploration company Xtract Resources should be underway .