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Junior Member
OMG Orion Minerials Group
Anybody know anything about this one?
not much news on it and it seems somewhat odd...had on the radar a year or so ago and still can't figure what it actually does?
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quick research indicates it was (at Oct 2009) a holder of Chilean mining licenses
but the main article I found referred to its share price evaporating
http://www.stuff.co.nz/business/2990...he-share-price
Orion Minerals Group, the New Zealand-listed company with mining licences in Chile, has seen about $225 million, or 83 percent, of its market capitalisation disappear within two days.
The stock, though very infrequently traded, had sold for as high as 30 cents, valuing the company at a touch under $270 million. This was despite the company having to date no operating earnings and no current indication of when it will begin operations.
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The company listed on the NZX's alternative market late last year through a reverse takeover of RLV No3. This involved the issue of vast amounts of shares and options plus payment of US1 million to parties selling the company the aforementioned mining licences. At that point the company was saying that actual mining and export of iron ore would begin in the third quarter of this year.
But now, after a series of delays, the company is pursuing opportunities through new mining licences
Sounds a little bit risky. (dry understatement)
For clarity, nothing I say is advice....
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Junior Member
Bit of advice for you stockie. You would certainly enjoy a cavity search by a Mexican customs officer more than being a share holder in OMG.
Do some research of who is behind little little gem. Rainbow, Strathmore, Plus SMS, Holy Springs, RIS, Kachingo should put you off to a good start stockie.
Nuff said I think.
FF
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Junior Member
Ha - that Ken Wikeley has crawled out from under his rock again!!! What a rort that chap did with plussms!!
Stay away - well well away. AO just give moi ya dosh instead!! :-)
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Junior Member
Last edited by fireflies; 27-05-2010 at 09:55 PM.
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Michael Jacomb
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Michael Jacomb
Yes "whatsup" not such good news for that Ken Wikeley aka Ken Wikley and will be justice for many in New Zealand and Australia who have lost $millions, via that conman.
It appears it's a private matter but seems some finance company will be interested in the outcome !!. He has been telling lies to many and reported also in the newspapers tell lies to reporters, a reporter will be there. So with some luck he will get caught telling his usual lies in The High Court and go down big time once and for all. What the reporter will be interested to see is his "statement of Assets & Liabilities" that's when the big lies will be told ??>
Last edited by thedigger; 28-07-2011 at 08:10 PM.
Reason: missed word
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Michael Jacomb
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