Member Info for Impecunious2

Hi, Predator

"Acreage" is correct spelling, no problem. "Ment" should read "meant."

Best wishes

Just remember the proverb, "time is money." Any delay is costing OMI, because of the team on site; plus the directors' salaries. An exploration company needs to explore; if it's doing nothing for months, except waiting for lawyers to complete a transaction which they have every incentive to prolong, the share price will fall; and rightly so.

RNS on 23rd April,

"Subject to several conditions, including but not limited to, the negotiation of definitive documentation and the completion of due diligence, the Company is aiming to complete the Transaction by the end of May 2024, subject to regulatory matters."

Hi, Zap

This is one of the most succinct expressions of mixed feelings I have ever read. You're right up there with Ben Jonson on his patrons; but no-one reads him now, because the language has changed so much. And we are locked into a patron/client relationship. We beg for favours from Brad.

The low level of trade just tells us that everyone who wishes to buy on the basis of what we presently know, has already done so. Volume will jump up, when we get new info. (Which is not the same as the price jumping up, for if there's a further delay or a cancellation, volume will rise, and the price will fall.)

Https://x.com/OrosurM/status/1793913923009401037

Not donkeys, but ponies.

Those Colombian lawyers may be charging by the hour. The sooner this is over and done with, the better.

Hi, Karl

I don't agree with you on this, because another delay will cost us money. Holding the licences is expensive (twenty times as much as in Argentina, according to Brad); and we have an unknown number of personnel on site, who would then be doing nothing for the duration of the delay.

There's also the reputational factor to consider; another delay might not be Brad's fault, but it looks bad, and brings back memories of all the previous delays we have suffered.

Hi Sharetrader,

Yes, the prisoner deserves to remain in his green box for many years to come. And you were right about the Leematt alias.

We now have a convincing reply to anyone who accuses OMI of being a lifestyle company, or the chairman of not earning his salary. No-one in his right mind would choose to ride up a tropical mountain on horseback, in order to sleep with the scorpions. Louis is doing this for duty, not for pleasure.

There are risks to option 1; but there are risks to option 2, too. There may be changes in the corporate landscape (Newcrest for example was taken over by Newmont); and the interests of the shark are unlikely to coincide with those of the minnow.

I'm not a geologist; but I would prefer to have Brad in charge of the drilling decisions, than someone at Newmont, who distinguished himself by drilling in the wrong direction eighteen months ago at Pepas.

There's a personal factor, too. I like supporting the underdog, the little guy. I can send Brad an email, and get a friendly and amusing reply; which certainly would not be the case with the CEO of Newmont, Agnico or Hochschild.

Every stock that's going to rise, does so in a zig-zag fashion.

This was true of GGP in 2020; the rise was sustained by a steady flow of good drill results (released by Newcrest every six weeks, if I remember rightly). The geology here may be equally (or more) favourable; but we don't have a buddy to pay for it (and the last one stabbed us in the back). So the dilemma for the directors is: do we go it alone, which means repeated dilution; or risk a joint venture with a larger company? My own preference is for the first. If the incoming drilling results are good, fund-raises can be done at zero discount. And no-one will complain about his 1% holding being reduced to 0.5%, provided it's worth much more than it was before.

That would be very nice, Dr.

Presumably, there will be one RNS about the purchase of MMA, swiftly followed by another announcing that drilling has started. And then perhaps two or three weeks later, the results from the lab in Medellin.

Of these three, I expect the results to push the price up most.

If Louis believed there was any danger of the deal falling through, he would not have gone to the site; because his presence there would make the failure even more humiliating than it would otherwise be.

Break,

Yes, I think you're right about this. "Them" refers to the rigs, not the team.

But that still means Legal is mistaken to believe that MMA is using a helicopter for the present operation; MMA now has nothing to do with Anza, if both parties abide by the letter of intent. And it is clear that our executive chairman is being transported by horse, not by helicopter.

Hi, Legal

The tweet of 19th May reads:

"The geo team at Pepas checking access for drill rigs. MMA flew them in by helicopter - a good option when money is no object. Not a luxury we have so looks like we will be doing it the hard way. Or should I say, the drill contractor will be doing it the hard way."

The syntax is not entirely clear; but my understanding is that in the past, when MMA were managing the project, they used a helicopter to fly in the team (because MMA had lots of money); but now Orosur (having much less money) is using horses to reach the drilling site (see picture in today's tweet).

Https://x.com/OrosurM/status/1792335959364981129

I wonder if Hochschild would be attracted to Anza. I would feel more positive about that than tangling with Newmont again; the burnt child avoids the fire, etc.