Hey gang it has been awhile since I checked in and by the looks of it some are growing tired of waiting. I can't say I blame them, since it has been as boring as watching grass grow. I believe the fundamentals are still in place, but as with any project of this magnitude, things move like molasses.
To make matters worse, plenty of other stocks got beaten down over the past couple of weeks and rebounding at a fast pace these past couple of days, making one to ponder the question of would my investment dollars have served me better by buying one of these other stocks that are currently jumping up. Well I can understand and appreciate that sentiment, but it was also nice to see OMAG hold up pretty well while these other stocks were being sold off over the past several weeks when the market was tanking rapidly.
I think if one is well diversified, you will have a few stocks in your portfolio that are waiting for further development and remain quiet. If one has too many eggs in this OMAG basket, then it could be of greater concern. As for me, I will hold onto my core position here and set it on the back burner to simmer. I think we are a ways off from this stock to make any kind of run in the near future. It is going to require a real concerted effort on many fronts to increase investor awareness enough to attract meaningful buyers of this stock. I don't see that happening until we have a much clearer picture of the details surrounding this project.
I agree with Al when he said the stock is only worth as much as what the market will pay for it, regardless of what we may think the value is right now. Frankly, at this time, the market doesn't believe this project will ever happen, which is why nobody is interested in accumulating shares, other than our beloved Bill. I think the share price will languish in this area until we actually breakground, but that is just my opinion.
I'm happy to have this sitting on the back burner as I remain steadfast about the long term potential of this project. Many of you have been here much longer than I and I'm sure you have felt the disappointment of the stock price action after the long awaited signing, but at least we all know what not to expect here behind each development along the way. I believe we have a ways to go before Mr. Market is going to buy into this story here, so remain vigilant for the long term and keep your short term goals for the share price in check for now. This way you won't be disappointed and depressed when the share price doesn't react to the news when it happens. Cheers!
