speculation

As per the First Qtr Cashflow statement... OMC have over $11 million cash on hand, so I doubt that this is for a capital

raising.

However, here are some quotes from the First Qtr Activities Report that provide some clues as to what this Trading Halt

may be about:


- The commencement of a significant RC and diamond drilling program on two regional targets and areas of known

mineralisation, giving the potential to increase the resource estimate and category for the project" (pg 1)

"Mutanga
Approximately 1600 metres of core and over 200m of RC drilling have been completed at Mutanga during the quater to provide material for the continuous metallurgical test work and to close the drill spacing to lift the overall resource category."
(pg 3)

"Dibwe
RC drilling has commenced at Dibwe with a view to lifing the resource category. A single line of drilling was also
completed at Dibwe West with a view to identifying further mineralisation." (pg 4)

"Metallurgy
Further Mineralogical work is expected to enhance the economics and upside potential of the Project." (pg 4)

"Bugua Area Rock Chip Sampling
RC drilling has now commenced to test a number of targets in this area." (pg 7)

"Project Summary
A significant drill program is underway and drilling has been completed on Mutanga and Dibwe with a view to lift the resource category and provide geological information and material for the continuous metallurgical test work scheduled to commence in the New Year. RC drilling has also commenced at Bungua and it is the Company’s aim that further regional targets will be tested as part of this on going program." (pg 7)


Looks to me like there are some juicy drill results and/or further resource upgrades coming.

Cheers