BK is not coming anytime soon as the loan proceeds take care of 2015 and then the proceeds from the Central America will take care of 2016. Meanwhile there will be other projects as well. The prospects for Oceanica are also promising given the investment now by Minera. I highly doubt Minera even contemplates execution of an agreement without a good level of confidence on approval. Not a sure thing, but certainly promising. No new common shares are out there for shorts to cover. If you are a true short then the time to cover is now. Plenty of money made on the short side and the risk of not covering is too great. If Oceanica gets approved, the Minera investment guarantees it being a success and BK is not even a remote possibility.
The reverse split should put OMEX over $5/share thereby opening up the universe of funds and institutional buyers. Reasoning behind 6:1.
It's really good news for a company trading like it was going to go BK. That threat is over for now and gives time as well for payment on the CENTRAL AMERICA haul. Improved liquidity can't hurt the Victory process either.
yes. any further clarity towards monetizing the gold, etc. is good news. this has nothing to do with the contract between Kane and OMEX which is entirely valid. OMEX is the contractor to be paid out of monetization.
More important is the recent stuff out of Mexico. Positive.
The company borrowed an additional $2.5MM on October 1 from the marketing loan and disclosed it had approval to borrow an additional $2.5MM at any time. This would give OMEX an additional $5MM in cash on top of cash balances at 9/30/14.
Of course it is not "Known" except for what was put in the 10Q for 9/30/14 since the only Known financial statement was as of 9/30/14.
Options were issued at first instance on being able to above $1/share. The shareholders still need to approve the options/RSU's and if most of what is being anticipated occurs with Oceanica and victory, the approval will occur as the share price will be at least triple from here. Its true this stock can go any which way, but it is a fair bet that it will go up significantly if Oceanica gets the go ahead from Mexico and further once Victory y commences. The Central America takes care of a good chuck of debt and that will also be forthcoming. Of course none may occur hence shares of $1 right now, but more than a few oars to make this float regardless for some time. Sort of nice to ride a stock that can be split in half or literally be a five bagger in short order with the right news.