Member Info for Impecunious2

In one way, this is a better bet than GGP; because at Havieron, the gold was very deep underground. But at Pepas, it's not; so the mining costs will be much less.

Hi, Legal

Your mention of an arrow reminds me of something I used to say to my A level students in English Lang. "Time flies like an arrow, fruit flies like a banana." Not that I have ever spoken to a fruit fly.

Hi, Dr

I did know it was over £1.5 billion, as I was holding it at the time; but I believe in understatement; that and bloodshed were the foundations of the empire.

I agree with you about Argentina; that may yet be, what makes us pecunious.

Hi, Karl

You're right to make this additional point, which is that both Brad and Louis are willing to show up on site, where the living conditions are dirty, difficult and primitive. I wouldn't do it myself, and spend all my time in a comfortable Victorian library.

We need to bear in mind that GGP reached a market cap of over a billion. So we still have some way to go, if my maths is right.

Hi, Legal

Yes, that thought crossed my mind, soon after I had written the question.

Brad is obviously enjoying himself, and it's worth bearing in mind that the last two years must have been a miserable experience for him and for Louis (I never accepted John and Bhargav's assertion that the two wished only to collect their salaries, and cared not one jot for the welfare of the company).

And we can see that he is very good at comms. He's got a sense of humour, he gets on well with other people, and he knows his finance and his geology. And unlike Elon Musk, he is modest about his own abilities. What more do we want in a CEO?

This rise, if sustained, will improve the financial position of the company. (i) The warrants will be exercised; and (ii) the higher the price, the less dilution is required to raise whatever amount of money Brad considers necessary.

Unlike most people here, I'm not in favour of a joint venture. Look what the last one did to us. The burnt child avoids the fire, etc.

Anyhow, this much is certain. We are all less impecunious now than we were two days ago.

What is very noticeable, is how little buying is required to push the price up. Today, so far, the buys have totalled £3,000. In the past, this was a lot of money; a gentleman could live on £100 a year; and a labourer was paid £20 a year. But today it's peanuts. Yet the share price is up by 3%.

Legal is right about this.

Hi, Dutchpro

This is just to say that I believe you are Dutchpro, and not someone else hiding under a mask.

Best wishes

I'm with the optimists at the moment. The company has been through a very rough time, a near death experience in my view, but is now fully functioning once more. The key factors are the quality of the asset at Anza, and the design of the drilling programme (first at Pepas, and then elsewhere). I trust Brad's competence, and that of the geologists he has chosen to employ.

Argentina and Nigeria are in the background, but may help the share price in the longer term.

One problem in investing is that we are programmed to learn from experience. If you have been scalded by boiling water, you make very sure not to spill any next time. This is very useful for survival; but much less so in finance. Why? Because (in the time honoured phrase) past performance is not a reliable guide to the future. GGP was a rubbish investment, before it took off like a rocket in 2020.

So in this case, Dr's predictions have been wrong, because he has been too optimistic. But that does not mean that he is wrong now. He might be right, we don't know.

I hope Christmas doesn't hold things up too much. We need the drilling team to agree with Scrooge that it's humbug (which is my own view, as it happens).

Hi, Jackbal

I presume you are teasing me on this. "Complete prat" refers to the owner of twitter, not the owner or owners of OMI. Some of us are prats, of course; but I have never included yourself in that category.

Best wishes

There is a separate problem, which is, should OMI be using twitter (or X, as it is now called), when it is owned and managed by a complete prat?

This is not something which needs immediate action; but looking ahead a bit, I think OMI should migrate over to Bluesky; and will recommend that to Brad, when he is less busy than he is now.

Hi, Maisie

As I said earlier today, he is probably saving money. What is the point of putting out an RNS, when you can do it for free on twitter?

Every RNS costs money (how much, I have been unable to discover). If Brad wants to communicate by twitter (or Bluesky), that's fine by me.

Perhaps we should ask Brad or Louis to resolve this important question, on which the fate of the company clearly depends.

I have thought further about the photo. The woman (or possibly man) has taken off her shoe, in order to knock a stone out of it.