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In January 2020, I wrote the following, 'The proverb, "it's never wrong to take a profit" needs to be followed by the parenthesis, "(except with Greatland)."'
This is pretty much what I feel about OMI at the present time. One day, it will be right to sell. But that day is some way in the future.
Or Golden Car under another name.
"There is a tide in the affairs of men,
Which, taken at the flood, leads on to fortune;
Omitted, all the voyage of their life
Is bound in shallows and in miseries.
On such a full sea are we now afloat,
And we must take the current when it serves,
Or lose our ventures."
Shakespeare, Julius Caesar, Act 4, scene 3.
Hi, Legal
The answer to the question is, it might reach 35, because that's what it reached before in October 2020 and February 2021 (when it was driven by what Alan Greenspan called "irrational exuberance"). But a lot of us will get out at 20, and count ourselves lucky to have done so.
https://www.londonstockexchange.com/stock/OMI/orosur-mining-inc/company-page
Hi, Dr
Slightly contrary to what I said before, there is gallows humour (the songs of WW1 are the famous example). And we did see some of that at the bottom in the share price.
https://www.youtube.com/watch?v=w6RnirpFaZk&pp=ygUVb2ggaXQncyBhIGxvdmVseSB3YXIg
Chartism is useful for companies on the main market, and for index-trackers. For these Aim stocks, I think it has little value.
It's good to see a bit of humour here. I remember on the GGP board in 2020, as we all became rich, many of us became witty. It must be a by-product of money.
I very much hope that if or when there is a joint venture, Brad remains in charge of exploration and development. He knows more about the geology of Anza than anyone else; and presumably will take decisions about where, how and when to drill in the interests of OMI, rather than some larger company.
Some of us are now having to eat our words about Brad. It's only eight days since I called for his resignation. I hang my head in shame. Bhargav's position is equally bad; he denounced Brad and Louis as clowns, repeatedly.
Just for the record, my present view is that Brad is a brilliant CEO, who has hitherto been kept in chains firstly by Covid, and then by the contract with MMA. We now see Brad unchained; though not I hope doing a striptease, which was suggested by either Dr or Chicken, though I now forget which.
I hope the next raise is at a much smaller discount than the last one. This should be possible, if it's done after some decent drilling results.
It's the discount that hammers the share price, not the raise in itself. I've seen companies where the share price hasn't moved at all after a fund-raise.
Hi, Forseti
Thanks for posting the link, which makes very interesting reading. Colombia is a dangerous place; organised crime on the one hand, and left-wing politics on the other.
If you want somewhere safer, you could try Nevada, where GMET has some assets (and an excellent CEO, who unlike Brad has put in £100k of his own capital).
I'm in both myself.
Hi, Islandgirl
It was the same company, Newmont, that exited, and caused a sharp fall in the share price, first to GGP, in January 2018, and more recently to us. Newcrest later stepped in to develop Havieron; and Newmont bought Newcrest last November.
I'm no great admirer of Newmont, and reckon we're better off without them. Whether OMI follows the subsequent behaviour of GGP remains to be seen. Unlikely, because Colombia is a much more difficult jurisdiction than Australia; the government may throw a spanner in the works; but not impossible.
Hi, Chicken
I don't regard you as a ramper; you're a long-term shareholder, which is a completely different category. And you know something about the company, perhaps even care about it, unlike these people who pass through for a day or two.
But calling Brad George pretty is a bridge too far; surely you meant Ms McQueen, who was interviewing him.
Best wishes
Hi, Simonthezealot,
You're right to say beware the rampers; but one would have to be very gullible indeed to be taken in by them.
I like your username; and see that you were crucified somewhere in Lincolnshire on 10th May, AD61. Hope it wasn't too painful.
Hi, Blondee
Of course, you were right not to buy on a spike. It's always best to wait a few days after good news, and then buy (unless you can read and interpret the news very quickly, and get in before the others). But I don't agree that we will be watching the paint dry again. And if you look at my past posts, you will see that no-one can accuse me of being a ramper.
Hi, Chicken
I agree this is a turning point for the company. "Brad unchained" is the message of the video; it's obvious that he's delighted to be unshackled from the decisions of Newmont and Agnico (which have included drilling in the wrong direction). And before that he was shackled by covid.
When Miss McQueen said "congratulations," she wasn't only congratulating him on the deal to buy MMA; she was congratulating him on having regained his freedom. Which (with the exception of health) is the most important thing in life.
He's sold. We'll never see him again. How we'll miss him, how we'll grieve.
About 4, I would say.
Hi, Chicken
I know in the past some people (including myself) have criticised Brad's PR skills. But what was remarkable about yesterday is that the RNS pushed the share price up by only 6%; it was the Flagstaff interview that then gave us a 50% rise. So his PR skills can't be that bad, after all.
He was of course helped by Catherine McQueen, who should in my view be appointed CEO immediately, on purely aesthetic grounds.
Hi, Davey
Yes, the thought had crossed my mind. It's nice to have the share price rising; but not so nice, when the rise attracts less than honourable characters, whose interest in the company is clearly very transitory.