Omagine

Company has signed a Development Agreement with the Government of the Sultanate of Oman. Omagine Owns 60%; Sultanate Owns 25%; Consolidated Contractors Owns 15%. Project to be developed on 245 acres of beach front land on Gulf of Oman. The estimated cost approximately $2.5 Billion. BNP Paribas To Lead Construction Financing Syndicate.
in response to justinpeters22's message

It is a "done deal". If you haven't had a chance yet, read yesterday's 10-Q and our comments on it. It's very positive in that it shows management is quickly moving to get the next key pieces in place before year end which will trigger massive growth in the company's book value.

I think all of us "veterans" on the board are just incredibly disapointed that the market didn't recognize the significance of the DA signing. About 2 years ago, give or take, when the first false start in getting it signed (there were many times that the MOT promised to act shortly, imminently, soon, etc.) only to have delay after delay. Those ugly days are behind us now. But when it was first thought that it was going to be signed, the stock ran up to $4.95 very quickly. So when that didn't happen this go around, we were all stunned.

So it will happen, it's just people are waiting ... perhaps to see that the land and other issues get "contributed", along with the $69m, etc.

Hope this helps ... and welcome to the board!

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AltonG
City
Basking Ridge
Rank
President
Activity Points
4848
Rating
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Date Joined
08/17/2011
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Omagine
Symbol
OMAG
Exchange
OTCQB
Shares
20,799,937 as of 01/04/2017
Industry
Bricks & Mortar
Website
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