Exactly. The trades should either be reported with the price, the volume and the time, and no further info; or buy orders should be recorded as buys, and sells as sells. The use of some imbecile algorithm is simply misleading to novices (and we were all novices once).
The problem is, we're dependent on the Covid situation in Peru, which is completely outside the company's control. But (as others have said earlier today), ultimately what matters is the assets. If they're good, all will be well; if not, not.
I agree with you - trading this stock on small fluctuations doesn't make much sense, because the spread is too large. And, as you've said, it's very easy for a 1p share, with a small market cap, to double or triple. No-one even notices (except the shareholders).
I certainly agree with you that the UK government made terrible mistakes in the earlier stages of the pandemic; and that the crisis was managed better in Australia and New Zealand (and some other countries, of which I know little). But the vaccine programme here has been a success; "it's so liberating," as a woman in her sixties said to me yesterday; which is why Boris Johnson is doing very well in the opinion polls. Here's Andrew Rawnsley on the subject.
It's always a pleasure to read your posts, because they're so wonderfully disillusioned. But I still think PR is important for a company, even a mining company. As mentioned, I'm now in Thor, as well as OMI; and I appreciate the CEO there making the effort to put out a video of herself standing beside a drilling rig somewhere in South Australia. It won't make any difference to the results; but it shows she cares about the shareholders, and that's important to me, and probably to the others, too.
I don't really agree with this statement, although it's quite funny. If one's talking about Covid risk, some countries are safer to live in than others. If you live in the UK, and are aged over 50, you've probably had two jabs; over 30, and you've probably had one. The vaccination rates in Peru and Colombia are low; and Peru has the highest death rate (relative to its population) in the world.
I'm not a great admirer of the present UK government; but the most important thing, they got right.
This is a very interesting post. I had no idea about von Schirnding, until you mentioned him; his name reminds me of von Spee, for some reason (who had a distinguished career in the German Imperial Navy, but unfortunately met a watery grave off the Falkland Islands). Anyhow, I see he was appointed as a non-exec on 12th January this year. You may be right.
Thanks for the reply. I thought I was going to get persecuted for having sold some; but actually the people on this billboard are a decent bunch; which makes it all the more disappointing that we've been clobbered by misfortune, or let down by poor management (depending on one's point of view). Every now and then, I ask myself if another CEO would have flown the samples out to the US, or somewhere safe.
I must confess that I sold part of my holding last week (at a 20% loss), soon after reading Brad's tweet that "industrial gas capacity (in Peru) is now redirected to producing medical oxygen" (which I took to mean, we could be waiting months for results). I switched into Thor, which I think is likely to produce results before OMI (also, the safer jurisdiction and a female CEO, I regarded as plus points).
Taking a loss is never easy, but most professionals advise doing it, if the circumstances have changed (as they have in this case, for when I bought, I did not anticipate that the drilling results would depend upon vaccinating the entire population of Peru).
I still have about £50k invested here, which is certainly a lot more than the directors do.
I don't know where you get this figure of 205k from. According to the RNS of 6/5/21, Brad holds 92k shares, and Louis holds 85k shares. These holdings are now worth about £13,340 and £12,325 respectively; otherwise known as peanuts.
Very interesting post. I suppose a cynic would say that TMT is moving from one cult to another (for there is something cult-like about the worship of GGP, although we've lost our great leader). But I'm no cynic; and TMT has always struck me as one of the most intelligent and rational posters here; so presumably well-able to look after himself.
If you sold 75% of your holding two weeks ago, I think you've done rather well, because you've saved yourself from the most recent decline. On your second point, I agree with you; if the chairman and CEO have not put in a decent amount of their own money, one does begin to wonder if all is well. For what it's worth, I think the long term prospects of the company are excellent; but the short term prospects (I mean over the next two to three months) have been blighted by an external misfortune, and that is Covid in Peru. Without drilling results, an exploration company is nothing.
Do shorten my name any time you wish. My capital is certainly a lot shorter than it was in January, as I failed to sell GGP when I should have done. Not to mention my recent losses on OMI. But "hope springs eternal in the human breast" (Pope); and I am confident that Thor will restore my shattered fortunes.
I'm with you on both points; particularly the second. These explorer companies live on the news flow; if there is no news, they wither. I don't blame Brad for the mess in Peru; but if there are months with no drilling results, the share price will fall. Once we start getting results, people will start jumping back in.
The short answer to your first question is, not much (they are often misleading, but that's part of the rough and tumble of daily life); and to your second, absolutely yes. I remember piling my entire capital into GGP on the basis of a casual remark by Applegarth. And have I regretted it? Not in the least.
Take it easy on Mr Positive. He's on our side (if you, like myself, are a shareholder). He's good at what he does, and his name tells us what he does. Also, he was right about OMI in December last year, when it was at 17p before rising to 38p (though now about 15p).