Form 10-Q filed today for the period ended September 30, 2015 reflect a $431,168,400 increase in stockholders’ equity and a $287,445,600 increase in non-controlling interests in its 60% owned subsidiary, Omagine LLC
Omagine LLC is developing a $2.5 billion tourism and real-estate project in the Sultanate of Oman and the increases are attributable to the purchase by LLC in July 2015 of Land Rights in Oman valued at $718,614,000.
What a difference between Quebec’s and Ontario’s attitudes to resource development!
“[Quebec] They see the plan as the government living up to its traditional role, which is to install infrastructure such a s roads, ports, power lines and airports.” – Drew Hasselback (Financial Post columnist):
There was a time, long ago, when Ontario did the same thing. However, the province’s sluggish approach to the infrastructure needs of the Ring of Fire is holding back the region’s enormous economic potential: