This is the Wrong Mako. The Sec website has the right Mako. Of more note, there appears to be relationships between Morris and Adam of Mako.
Now it starts to make sense.
From what I have gathered, the principal person listed for Mako through its manager, Hornet Management, is Joshua C Adam. Adam seems to have an active business relationship with John Morris, former head of Omex. Adam seems to be based out of St. Petersburg, Fl. He also seems affiliated with several sub sea mineral entities in Florida.
I don't know any details, but it would appear there is very likely a strong connection between Omex and Mako. It does not appear to be one of simply co-investors. There is nothing wrong with this as you typically go into business with friendly cohorts, but it helps explain why the Mako transactions also came with transactions with unnamed others to get Omex more shares and voting control over more shares.
Just a pure hunch, but Morris could be involved in those other minority shares of Oceanica in some way. It is someone friendly to Omex.
Just google Hornet Management Joshua C Adam.
They need cash to fund projects this season. Mako was not going to exercise until 12/31. No reason. The silver from G and M will take months to monetize and then they might wish to wait for prices to firm. The end result is they received 10mm less from the shares compared to if they waited until 12/31. But they picked up another 2mm shares and voting control in the process. And they have cash for projects this year. Given Oceanica will be valued into the hundred of millions soon, this is a good way to get cash without diluting shareholders.
Mako is well aware of what is going. They are exercising at 1.25 before results are in. OMEX gaining more shares from likely friendly shareholder. Values will soar well past $2.50 share later this summer. OMEX once again hints at it in PR. Just need the official report later this summer.
Btw, how do we know the Victory approval is not the cause of this as well? All good.
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.
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.
Nice job and no dilution to Omex shareholders.
The company put out a PR last Monday that progress was being made on the G. It is now a week later and only reasonable to believe silver should be coming up. I don't expect progress updates every week, but the company has now set an expectation if silvercrscivery with last weeks PR. People are trading based on this optimistic Pr. To stay quiet if little to no silver is being recovered is very questionable from a REG FD disclosure requirement. I believe silence out of OMEX is positive for thus reason. Of course a positive Pr would be wonderful but might be a bit premature.
Look for the move toward 4 this week barring unforeseen negative news on G.
Originally, between 5 and 6 was my target. I have now adjusted it to the 8-10 area based on prospects at Oceanica. There was considerably more risk before than at present. Hard to see thus sub 3 at this point.
Again, in the past the company was wholly dependent on salvage wrecks so one could build a case for the shorts. However, if Oceanica comes in as hoped, the entire dynamics of an investment in the company changes and no number of shorts playing games will keep the shares down. Those wishing to play such games will then move on to other companies to play their games. Oceanica is the game changer and we are less than a few months from getting more information there. I do believe success at the G & M will propel the shares over $4 soon, but the BIG move will come with Oceanica. Plus my guess is the company has other endeavors going on which have not yet been made public. Just a hunch.
I can understand your thoughts as a long term shareholder. HOWEVER, as a long term shareholder, can you point to a time when the company had the prospects of a several hundred million dollar mineral find? Can you point to a time where the company could recover approx. $60MM of gold/silver from the G & M and only have to pay the UK 20% after recovering expenses? There is no Galt to pay.
In addition to Oceanica, the Chatham and neptune investments appear to be valuable and growing over the next handful of years. The company has virtually no debt now.
When has the company ever engaged 5 investment banks for anything? When has the company engaged legitimate investor relations counsel to work directly with funds and banks?
What I am saying is I believe the OMEX of the future is not going to replicate the OMEX of the past. I understand the wariness of long term shareholders. I understand the negativity from those longing to see OMEX fail miserably. But from my perspective of being here less than 9 months is of a company with immense potential both operationally, and more importantly for shareholders, in share appreciation.
We will know soon if a new day has dawned. A $50-60MM recovery from the G and M provides cash flow for multiple projects. A report on the mineral deposits with Oceanica in less than a few months that is anywhere near the definition of "world class" sends these shares to $10.
I am no pumper. I admittedly acknowledge these events still must occur. But the odds favor OMEX here. Oceanica appears to be very solid from the reports and the G & M appear to be on the cusp.
Have a great weekend. You never know when news will hit.
Gordon mentioned earlier in the year that they were looking to monetize the increasing value of their assets, in particular, Oceanica, through investment banking. OMEX can undertake far more projects if it has more funding capabilities. This is why It was stated OMEX was having a meeting today to talk about any re-balancing for operational initiatives. OMEX may very well have the capabilities now to raise debt to fund additional projects using Oceanica, for example, as collateral. There will not be dilution as it is unnecessary except to the extent the wet the palms of the investment banks.
Look for additional research coverage as well.
As for the G and M, the ROI skyrockets on these projects if simply the insured silver is recovered.
I love reading the misguided posts of certain naysayers here. They try so hard!!
See you above $4 this month.
I just laugh at how hard some try to be negative. It is crystal clear from multiple press releases today that the progress relates to the work gojng on with the G and the new information relates to the M.
Like I said before, the OMEX OF THE PAST IS NOT THE OMEX OF THe FUTURE.
Huge gains are very likely as this all plays out.
Sentiment: Strong Buy
Nice to see the PR. Key is it did not have to out one out since earlier releases indicated search would commence on 5/22. More importantly, the part that progress has already been made certainly was unnecessary and only heightens optimism on more silver. My guess is silver has already been recovered or at least seen so that they wanted to say something in case word leaks.
Mantola looks very positive as well.
You can take nothing but positives out if this PR.
Sentiment: Strong Buy
The last part of the trading day brings out large Bids and Asks, many times very close in number to each other. What is going on here? It also happens during the day, but at lower volumes. Just looking for some opinions.
Does it show if the crew #$%$ into the water or use on deck commodes?
Okay....Please relax guys. They are working the G. You don't need to know the precise time of day.
Sentiment: Strong Buy
Unlike last year when it took weeks to just get to the point of bringing up silver, the recovery process this time is far more refined resulting in a far more efficient search recovery operation. Eyes of many are on this recovery and people will naturally talk about it. The first crew change is the latest in my opinion. I am sure non-disclosure agreements have been signed by crew, etc., but word leaks anyways. As a publicly traded company, Omex will be required to disclose information once word starts getting out.
These are exciting times for OMEX. What the naysayers seem to fail to realize is that for the first time in its history, OMEX is close to having the financing to conduct multiple operations in the same year and in multiple different specialties. Thinking the OmEx of the present is similar to the OMEX of the past is misguided if any reasonable amount of silver is recovered and/ or the Oceanica is indeed worth at least hundreds of millions.
OMEX will monetize Oceanica if it is very valuable well before minerals are mined there.
Enjoy the next handful of months. With any decent breaks, OMEX will be sitting north of $6/share as summer plays out.
Seabed Worker will be over the G site early next week. It should not take long thereafter to start bringing up more silver as the exploratory work was done for the most part last year.
The next news out of the UK on Victory should be more meaningful since the MHF has now submitted the revised plan early to the MOD earlier this month.
Oceanica report is likely this summer.
And what is OE doing as well?
Let the fun begin next week.
Sentiment: Strong Buy
While the OMEX of old is not the OMEX of current days, there are still many who simply want to be shown results as opposed to promised results. This gives those of us who believe the actual news is forthcoming a chance to pick up nice shares at these prices, but it also means volatility in the pps. This will change as soon as actual news is out such as more silver found on the G and/or M, Victory news, other news, and most significantly, the results in on Oceanica. We are talking mere months, maybe weeks now before a significant run up.
Sentiment: Strong Buy