OMH 4.00% 52.0¢ om holdings limited

I highly doubt that OMH would put a single dollar into E25, OM...

  1. 11,963 Posts.
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    I highly doubt that OMH would put a single dollar into E25, OM Holdings management have learnt a valuable lesson when it did all its dough with another would be manganese miner many years ago. It was called Shaw River manganese SRR and major shareholders were OMH (originally held 8% and then diluted down to 4%) and Atlas Iron (originally owned about 53% and sold out to Btyve Resources).
    Shaw River Manganese had tenements in Western Australia , Baramine manganese project some 270 kms south of Port Hedland and 701 Mile manganese project 80 km south of Mt Newman.
    Shaw River Manganese also had manganese deposits in Namibia (Otjozondu) and Ghana (Butre)

    Baramine manganese deposit grades from 31% to 44% and is far better than the E25 manganese deposit.
    We've all heard this story before.

    "The Baramine Project is located 80km to the north west of the Woodie Woodie Manganese Mine in the Pilbara region of Western Australia.. A 40% Mn product currently carries an approximate in-situ market value of US$240/t (using US$6/DMTU). Using these conservative prices, each 100,000t of 40% Mn product can be valued at approximately US$24,000,000 in situ."

    In 2015, Shaw River manganese started production at its manganese mine in Namibia, sold off all Australian projects, and after producing for 6 months finally collapsed into Administration in 2016. The Administrators sold off the Otjozondu manganese ore mine now operated by MN Holdings.

    "Premier African Minerals has agreed to acquire an additional 2% stake in MN Holdings (MNH), the owner of the Otjozondu manganese mining project in Namibia.
    MNH is the owner and operator of the Otjozondu mine, which is 450km east of Walvis Bay, a port town on the coast of Namibia."

    However the story doesn't end there, Shaw River Manganese was eventually regurgitated as Rolek Resources RLK and somehow managed to get the Baramine manganese project back on the books. Rolek was planning to do the same as E25 by mining and selling manganese ore.
    Rolek tried to relist on the ASX and tried to raise funds however the public offer closed under subscribed and all money was returned.

    Rolek recapitalisation fails
    EVEN after seven months shaking the tin, strong initial interest and the backing of DJ Carmichael and Otsana Capital, Rolek Resources has failed to raise the A$5 million needed to recapitalise the company and get the Barramine manganese project into production within two years.


    Maybe a cheap manganese project going for somebody with deep pockets.
    Last edited by rocket973: 04/07/20
 
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