Member Info for Impecunious2

Hi, Micky

I appreciated your post, and (broadly speaking) agree with you.

(i) Brad is not a fraudster or a charlatan, that's definite. He may have made mistakes; but which of us has not?

(ii) The delay is presently caused by disputes between the two parties over the division of the spoils, when or if a mine at Anza ever goes into production.

What troubles me is this; are Newmont and Agnico negotiating in good faith? or is their objective (or the objective of one of them) just to crash the share price, and buy us out cheap? Brad says I'm being "conspiratorial;" and I hope he is right about this; but fear he may not be.

Best wishes

Here are the last two paras of the email I received on 9th August. They sound positive; but the fact remains that the company is in the grip of forces beyond its control (i.e. two much larger companies).

"We are close, we are ready to start, we have people now permanently at Pepas securing the site, drillers are standing by, we are remodelling APTA to see if we can move to a resource there etc etc.

Everyone is frustrated."

Hi, Legal

The short answer to the question is no, they're not reassuring at all. Having a CEO who depicts himself as the prisoner of circumstance is alarming, rather than reassuring.

But I still appreciate the elegance of the prose style. Reminds me of the French officer, who said, "If you're going to shoot a man, one should at least be polite."

Hi, Legal

Re your post of 12.19 today, this is just to say that Brad has replied to all four of the emails I have sent him; and that his replies are intelligent and amusing (which is more than I can say for some of the messages here).

Best wishes

Hi, Dr

My remark was prompted by the event off the coast of Sicily. Having too much money brings risks of its own.

Best wishes

Plus the possibility of the yacht sinking.

Hi, Rob

My understanding is that negotiations are still ongoing.

Best wishes

It's very hard to believe this will ever end, it's been going on so long. But the fact remains, it must end sometime (though not necessarily within our lifetime). Everything does; the Roman empire, the Spanish empire, the French empire, the British empire. And the third Reich.

There are only two ways it can end. (i) The deal goes through. (ii) It falls through .

I have no idea which it will be.

Hi, John

It's not right to say there's no communication with shareholders. If you wish to send an email to Brad, he will reply (provided it's polite, intelligible and relevant to OMI).

Best wishes

I also like "surly" for "surely." "Surly" sums up the mood of many shareholders (though not myself, for politesse is the first of virtues).

On the basis of Brad's emails to myself, I can say with some certainty, that he's not smiling. Maybe about other matters; but not about OMI.

"To except: To leave out, and specify as left out of a general precept, or position."

Johnson's dictionary, 1755.

Hi, Legal

You should try emailing Brad. I've done so thrice in the last ten days, and he has been very good about replying.

I have taken a self-denying ordinance to leave him alone, until this deal goes through, or falls through. But that doesn't apply to you.

Best wishes

I fear not, Nookie. This could go on a long time.

Things are bad, and they can always get worse.

I myself do not believe that Brad is a charlatan. But I do think it's possible that Newmont or Agnico wish to wreck the company, in order to buy Anza on the cheap.

Something I like about Brad is his prose style. "The delay is horrible I know, I wanted to be knee deep in drill core by now," he wrote recently. This may not be up there with Oscar Wilde, but it's certainly better than some of the shareholders.

I suppose the one comfort of holding a stock which has fallen so much, is that we don't have to worry about a general market collapse. Our collapse has alteady happened.

The deal is still in negotiation; today's RNS makes that clear. An outline of it may be with the regulators; I'm not so sure about that.

Cheaper and quicker.

Hi, Legal

This thought had crossed my mind, too. Let us say Newmont fancy Anza and El Pantano; therefore, crash the share price, and buy the company on the cheap.

Of course, one can then say, why did Newmont back out of the original deal? Answer, this is a cheaper way of getting to the same end.