http://business.inquirer.net/money/columns/view_article.php?article_id=54420
Bearbull article on OM
I have been intrigued by the massive turnover in Omico Mining and believe that I mentioned it in the Inquirer a few weeks ago. There is no smoke without fire, so I decided to investigate it.
Omico has been talking to claim owners for a possible joint venture or acquisition. At the same time, it has been approached by a number of foreign investors for a possible tie up.
The company is studying various proposals but is very diligent, discreet and choosy in selecting mining claims and investments partners. So it tends to move slowly and surely to ensure a higher rate of success.
The company has preserved its property assets very well. There are two joint ventures, Urdaneta with Sta. Lucia Realty and Tagaytay City with Robinson Homes, and there is a low-cost housing project in Santa Rosa, Nueva Ecija, that is developed by Omico.
Its Baguio City and Makati City projects are in the planning stage and all properties are in prime locations.
Technically, the chart looks very good. While almost every other stock has been adversely affected by the China meltdown, Omico was hardly affected and has been rising steadily in huge volume.
Support seems to be widely spread. My only comment is that the company’s capital base is too small to attract foreign investors and it would be in the company’s long-term interest to increase it. This is essentially a good long-term investment.
