Member Info for adamsmithfreethi

Strictly speaking we haven't had the quarterly update yet which normally comes out at the end of the month. I'm assuming the drilling rig has already started the infilling process (otherwise what has it being doing the last few weeks!) and allow another 2 weeks more of drilling time so give us at least a few preliminary results.

Onlymeagain - just out of interest what was your other investment? It might help to share since whatever characteristics your other share had can be compared to that of MTL and hopefully put the risks inherent in MTL into comparison. Hopefully, a favourable comparison!

I think from memory the annual report mentioned around 400 oz in reserves, maybe a bit less I can't remember. However, what was totally missing was any mention of resources - measure, indicated or inferred. There were plenty of these in their other prospects but nothing I could find for the main producing mine in Nigeria.

It's often what is NOT said rather than what is said that is the salient point in any investment appraisal...

I took my cue

Thanks Tarnow - that helps...

I've twice been recommended THX but having done their research I'll pass them up. Yes they have a low cost reserve but it is finite with no prospect of extension. This being Nigeria some local greedy bigwig(s) has put the squeeze on them. Yes they've rebuffed them for the moment but being Nigeria they'll be back having taken the precaution of bribing the judges first.

As for prospect they have quite a lot. Too much in fact. Too scattered and not nearly close enough for any exploitation to be on the radar.

Contrast that with MTL. It's really a no brainer.

DrR a question if you please. I'm a relatively new investor in OMI (just under a year) since when I looked at them previously they appeared to be overly complicated for my taste and so didn't pick up on the drilling results at the time.

I must confess I'm somewhat surprised at the drilling results you quote at APTA. My general impression from looking at the summaries produced by the company, when I was doing my initial research was that all the various places drilled, although producing results, were not straightforward prospects and hence why the company, once freed of the JV went to a greenfield site, PEPAS, rather than carrying on with the old drilling programme.

The results you quote are really every bit as good as Pepas (yes actually probably better!) although I don't know the other details like depth,spacing, chemical makeup etc. So what's wrong with APTA? To much faulting, to much stripping required or too much initial investment needed either due to sheer size, inaccessibility or complex processing required?

I'm all ears and apologies for being both lazy and uninformed...

This sends a clear message to shareholders expansion yes but not at any cost and, most importantly, the nature of the deposit found and the buoyant state of the gold price allows exploitation of the huge tenements the company has without significant dilution in shares.

Why? Because digging out the high grade deposit found and sending it to a local mill gives us the war chest to really get into gear. Plus the fact that exploration will still continue albeit the cautious low cost way. So by the time the deposit has been exploited with a nice big sum nestling in the bank account Brad et al will have a much better idea than now as to where to prioritise next.

This clearly won't satisfy those investors who panic in the absence of news every 2 days but that's ok fellas I'll have your shares.

With no dilution and a fair wind this could easily be a x10 plus bagger.

But you have to be patient....

I used to think the CEO was mercurial i.e. not necessarily bad but I think moronic might be a better description.

They are much better at selling the supposed virtues of the company than actually running it including their supposed strong point in negotiating deals.

I shall be voting against. Break fee or no break fee. They sold exactly at the bottom of the market.

Good job fellas!

TalkitDown. Fair point and I can't disprove otherwise.

But you must agree your moniker is becoming somewhat ironic so in the absence of further evidence to the contrary I'll keep the "Down" bit at the end of your name.

Yes but that might mean any bid comes sooner rather than later and hence, in my rather paranoid opinion, the appearance of the TalkitDowns. Darren talks a good book on not agreeing to a bid but the squeeze can be put on him.

If you don't believe me then go and research SHG. The mood music changed 180 degrees in 6 months. The bustards even commissioned a load of OpEds to say the company was being "rescued" by it's bidders from certain bankruptcy.

Scarcely believable but it could well come to a share stock near you!

Sorry Kat - 14.85 - that make's it even worse! Around 50p sounds a reasonable estimate. I try not to think about it....

TalkitDown. A question. I was in the room at the AGM when Darren, as squeaky correctly states, believed MTL would be a multi billion £ company. He's been pretty accurate so far so why do you know better than him?

Perhaps you're employed by Drachs to try and deramp. It's certainly been done on other boards e.g. OMI

Talkitup - you're not being true to your moniker are you?

This company is worth north of 50p NOT 20p. Talk like this would only encourage an opportunistic bid. Believe me I've been there. For any ex holders of SHG a question. It went for around 16p if my memory serves me correct. How much do you think it's worth now?

I'm quite happy for delayed gratification. Any marshmallow addicts should sell up now.

I DO NOT WANT TO GET SHGAFTED AGAIN.

Well if the buyer is using different vehicles that still a concert party and needs to be disclosed.

What I don't to happen is to get SHGafted AGAIN!!!!!

Interesting stats Dr and it just shows what's possible.

Of course with my efficient market hat on and, for the purposes of balance, Bhargiv et alcould be right too.

So sit back and watch the battle of the price predictor titans.

Not that Bhargiv et al might actually be in cahoots with the DMF. Now that would be a shocking thought!!!

I'm jealous now that I only got mine at 7.50! Well done chaps & chapesses

Let's hope that in a few months at 0.25 differential will turn out a mere rounding percentage difference

Just bagged a bargain 7.5 for £10k. Never thought I'd see that again!

Keep it up fellas! Still got another £10k worth if it get in the 6's...?

Maybe we're at the max point of psychological pressure or maybe at the beginning of next week with still no news.

We'll see....

Sorry advice not advise

Ignore the opinionated £wats who reckon they can trade their way to billionairehood. They can't and you won't if you follow their advise. Same old same old. They are either fools or knaves. You don't want to take notice of either.

The decision you have to make is as follows. Am I a long term or short term holder in this stock? Once you know this the only other question is; at this moment in time am I better off holding or selling given the latter represents your opportunity cost. If you sell you sell. Do don't try and trade this stock. It's a mug's game. The house (broker in this case) always wins.

The rest is just sound and fury signifying nothing!

Mapp - please not the nanny state.

If you don't like what Johnstoneo or Bhargiv plus any others have to say just ignore them. Please not another rule or quango that is/are required because your state of mind can't cope with their postings.

Have confidence in your decisions and if you don't sell out. I'm sure that will please certain posters. No names mentioned.

Investing is a MUCH about strength of character as it is about brilliant insights.

Aim as a market is no worse that the main market. People always complain about it but nobody absolutely nobody has actually said why.

So why?

It's a good question RetiredB and one I asked myself.

I've concluded that actually, insofar as gold mining is concerned, he's not a very good judge of prospects. Either that or he sold out of emotion seeing how DB has made a real go of things whilst he and dogsbody wasted more than a decade no doing very much.

I don't think the experience made him much wiser than he was at the beginning.

Anyway we'll see you had the right idea