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.
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in response to clarktwayne's message

I'm not sure if 90 day, 200 day or any day averages mean anything with a thinly traded stock like this. Nor a stock like this that has a unique and tremendous upside story to it that is waiting to prove out to investors.

That being said, this week, ladies and gents, is the week we hear deafening news. The annual report (10-K) is due no later than Wed, the 15th. There isn't any reason it shouldn't divulge the appraised value of the land (likely in excess of $750m based on prior published comments). And I would be very surprised if it wasn't also announced that the land was contributed in March ... given that the Usefrunct (sp?) has apparently been ratified in March. Erego, ipsofacto (legalize from a non-lawyer), and in reference to my opening sentence, we should hear some very positive news " ... any day now ...". If the valuation is as we all believe it to be, this would imply a new book value increase of close to $25/share.

Cheers!

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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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