Mako had no incentive to exercise before December 31. This transaction gives Omex needed cash now yet actually increases ultimate ownership in Oceanica and gives them voting control as well. Clearly they feel Oceanica will be worth more than the $2.50.
It proves their business model does not work. With silver at $21, SBW must get 5000 oz of silver each day, just to break even on their $100,000 per day contract. In 20 years OMEX has never made a profit. Great business model.
Disagree. Any silver recovered will take months to monetize and this gives time plus cash to undertake other searches. How do you know these funds are being used for a specific project? Could becfircan entirely new project. Could be for mineral activities.
What it does show is Mako willing to pay 1.25/share now to get more Oceanica and Onex arranging to gain more shares and voting control as well of it.
Oceanica is where the value will explode. Later this summer will very likely confirm it.