OM1 0.00% 7.8¢ omnia metals group ltd

Ann: Trading Halt, page-66

  1. 16 Posts.
    lightbulb Created with Sketch. 9
    I agree. The transaction is boggling considering the terms...an offer 6X the price of DG at the time? I would bet DG shareholders would've gladly taken less given the share price had been sitting dormant for along time. DG ceo is a large holder of stock with over 5 mil shares so he's going to benefit for sure from a buyout. It's about the only way he can cash in.

    As far as assets...The Red Lake project is mostly granite and have seen minimal work. The lithium projects both have had some solid returns in the past fromprevious owners, though need helicopter access I believe which increases any costs considerably. DG ceo is notorious for not drilling, preferring to do minimum work to keep property without excessive dilution as he holds large percentages of the cos he runs (also RLGD). So should the deal go through, it'll be interesting to see what Omnia can do with them.

    Anyway, like others I'm curious how Omnia stock responds to the takeover. Watching from Canada...
 
watchlist Created with Sketch. Add OM1 (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.