Member Info for Happyhaddock

@Starbright - like you I'm no expert geologist so I am always interested in the views of others more knowledgeable types, but my take is that the good news is that all this seems to be very near surface drilling meaning you can "mine" it with little to no effort and so it all looks as if it might be economical to remove, but in terms of DSO I was kind of hoping for more grades above 60%.

well we've been waiting a long while for any news and we do now have something to talk about, but I'm of the mindset that with so much more data outstanding, the numbers we have so far are more of a vague hint than a clear indicator of what is to come. We already knew there was plenty of iron ore there with a lot of potential for high grade ore, the question was always how much of it is DSO grade.

Would anybody be brave enough to amend a possible valuation of our iron ore based upon what we have learned today?

For the time being I'll just stick to my plan of holding these shares and seeing where we end up a few years from now.

@smiller - I'm not sure I'm trying to say anything, I've certainly no "conclusion" to draw, just pointing out an observation.

It's not that there are so many tiny trades going through on UFO to call it out as in any way a coordinated or suspicious act, just "different" ... perhaps time will tell if there is particular reason for this , or if it is simply a blip within the randomness of the overall data arising from many different people each having their own reasons for trading the amounts they do.

I'm not the only one here invested in a variety of other junior explorers/miners.

I've noticed over the last few weeks what seemed an unusually large number of the trades registered here (both buys and sells) for UFO are for pretty small amounts of cash; certainly low hundreds of pounds and many in the tens of pounds.

Obviously everybody has a different level of wealth to invest so I'm not belittling those for whom an investment of £100 or £200 is a lot of cash. However for comparisons I've been watching trades listed for the other juniors I'm invested in. Yes there are a few small trades but the impression I get is that high hundreds of pounds or low thousands of pounds are more "normal" with occasional trades in the tens of thousands of pounds or even hundreds of thousands of pounds going through.

I'm not sure if it says something about the type of private investor attracted to UFO but from entirely subjective casual observations over the last few weeks there seems to be something different in the way this is being traded.

"Got to love the respect for differences of opinion on this board" - when times are quiet things are pretty polite but it can get very ugly, generally at the times things are at their most volatile and the short term traders that show up out of nowhere start losing money.

I've said it before, that whilst I know nothing more than others here, my suspicion has always been it will be the second half of the year before sentiment for precious metals and junior exploration sector picks up again. That whilst a bit of good news could drop at any moment and do wonders for UFO's share price, I'm also not expecting any of that news until the second half of the year.

If the share price drifts sideways or down a bit before then it will be no surprise but I do believe once things start happening there may be an awful lot happening all at once, and we know how explosively this share price can move once it gets its running shoes on. As for when it happens I don't mind to much as I've no loses to re-coup having built my holding before the last explosive run up.

It may simply be another does of pragmatic realism to say this, but as we all know the only certainty is that in the absence of news we will speculate about what were aren't being told.

It is also likely that when we are told something we will all dissect it and end up inferring much more than we have told leaving us to feel we all need more info from the company to answer our questions leading us to speculate further.

To speculate about unknows is very human but changes nothing but our own sentiment, and if as LTH we aren't going to act upon short term sentiment I wonder why we are still drawn to speculate when the sensible thing would be simply to ignore things for another 12months and look in when there is far more likely to be a lot of new stuff to see?

I agree that having told shareholders that there was a 60day exclusivity period that they have created an expectation we will be told something at the end of that period, and as such it would be "polite" to do so.

It is simply that there is an awful lot of info we've ben "expecting" for some while now and so adding more to the list simply sets us up for more disappointment.

News will arrive when it arrives, hopefully you are correct and we will be told something, even a simple statement that they haven't concluded discussions so have nothing to tell us would be better than being left hanging.

I've mentioned before that there is no certainty that we will be told anything just because an exclusivity period has come to an end, its not an absolute given that discussions will be concluded by then.

News will drop as and when the company has something to say, and feels it advantageous to say, about the tailings.

That may be soon, it may not. What we can say is that a lot of folk here have been disappointed in the past when assuming particular bits of news must be imminent.

well nobody would want to be behind schedule and need of a loan to cover costs whilst catching up, but the fact that directors are willing to risk their own money lending to the company must be a small positive and sign of trust in the long term prospects.

I don't own anywhere near as many as some here, but my holding does measure in the millions of shares rather than hundreds of thousands of shares. I can however state with certainty I am still holding and don't expect to be selling for some while yet.

Choosing to work as a self employed artist isn't a move you make on financial grounds so I don't have the disposable income to throw at my investments that some do.... Though others have said the choice is driven the other way and that nobody chooses to become a self employed artists unless they are already financially secure... so make of that what you will.

have you ever looked a haddock in the eye and seen it smile?

Placings always dilute a shareholders existing holdings, and the knee jerk reaction is to assume this is bad and the SP tends to drop. ... what matters is what happens once common sense has had time to kick in.

In truth it always depends upon whether the value of the company is increased enough to off-set the additional shares created. - it's a phrase I've used on various boards here on LSE but -

"You can still get fat eating a thinner slice of a much larger pie"

Plus we don't know with any certainty that this is why a new broker has been brought it, only that it would be foolish to rule out the possibility.

@Yo-homes - I can't speak for others but I'd guess this is referencing a post I made earlier about new brokers and the possibility of a private placing.

very small mkt cap AIM listed explorers do this often, whether GGP is still small enough for this to be as likely I won't guess at, but it has to remain a possibility. I suspect GGP are less in need of the cash but much may depend upon what sort of investors the new broker may be in touch with...

Anybody else's mind wander in the direction of three gruff little billy goats?

@silverhorse - I tend to favour very speculative early stage "penny stock" explorers. I was somewhat late to the GGP party so by the time I found it it had already massively multi-bagged.

This put me off a little but I could still see some growth left in it so just bought a few as a "safer" investment - since then its gone up from the just over 10p I bought in at so I have doubled my money and more, but I don't see it one hundred bagging from my buy in price.

Doesn't have to be the case here, but when I read of new brokers being appointed my first thought is always of a new private placing to bring in new investors... new brokers rarely help their investors buy on the open market.

goingtothemoon - depending upon where you buy from it will currently cost about £500- £700 more to buy 5kg of silver as many CGT free 1oz Britannia's rather than as a single 5kg ingot.

Therefore the smaller coins become the better deal at the point at which you'd be paying more than that £500-£700 in CGT when selling. If you are thinking short term and looking to sell if/when silver spot gets back above $30/oz or $50/oz then you'd need several 5kg ingots to exceed CGT thresholds and pay any tax.

Conversely if you are thinking long term and towards triple digit silver then the profit on a single 5kg bar may be more than enough to take you over CGT thresholds, if the silver price goes well in to triple digits the smaller coins start looking more economic in the long run.

We need to remember that fact has very little to do with short term price movements - OMI is a company driven a lot by sentiment and hype - no matter what the news it is unlikely to live up the dreams of those who want to have become overnight millionaires yesterday.

If you are along term investor then you need to trust the prospects will grow the value and not judge the company on its share price, otherwise you need to be nimble and be jumping in and out to ride sentiment, something that will only make it more volatile and sentiment dependent in the short term.

Pro-rata larger weight bars are cheaper to buy but you have to ask what you are going to to do with them, how "liquid" they are when you need/want to sell them on and what the capital gains tax implications are.

Premiums on a 1oz Britannia may be more up front but they are usefully small weights to easily sell anywhere, and if you are moving on a lot having made big profits they are tax free which may more than off-sett any premium initially paid.

I agree that the internet allows easier dissemination of info that may encourage more ordinary folk to take an interest in investments... However I don't feel ordinary folk or the minnows as you call them were ever prevented from making a buck, it's just that decades ago you researched in newspapers and had to telephone brokers to trade .So whilst it took a little more effort to trade anybody willing to make the effort could.