Member Info for Impecunious2

Hi, Zap

I too don't understand the timing of the fund raise. He should have done it after the announcement of the letter of intent; which would have got more money for the same dilution. One does wonder if he wanted to drive down the share price, in order to benefit his friends, family, or indeed himself, if he's into what I shall politely call indirect purchases.

I entirely support Brad's new policy of frequent communication. The silence he was forced into before crucified the share price. As he said in the interview on 25th March, "we will now be doing things differently."

I'm pleased to hear that the MMA team "are all gone now." The further, the better.

Hi, Predator

Well done selling this morning; you're better at this kind of thing than I am.

And yes, I agree with you about AIM CEO's and directors. OMI is worth buying at 4.75 or wherever we are; but it still annoys me that neither Brad nor Louis have put in any proper money of their own.

Mapp said something interesting, in line 5; "some win, and most lose."

I think this is true with these AIM shares; but false, if one buys an index tracker, and holds it for years or decades. Of course, there's a question of which index to track. The NASDAQ has outperformed the S&P500, and the S&P500 has outperformed the FTSE100.

But to anyone wishing for a stress-free life, with no need to think about shares, and lots of time for other activities, I recommend an index tracker.

Some people may be selling for tax reasons this week, either to record a loss, to be set against profits elsewhere, or carried forward; or, if they bought lower down, to use up the capital gains allowance.

The best thing is to get one's capital inside an ISA, and then one doesn't have to think about these things.

Those two trades of 100,000 at 14.17 and 14.27 look like someone using up his capital gains allowance before the end of the tax year. This is the week when people will be selling for tax reasons, to record a profit or a loss, if they are holding outside an ISA.

Hi, ICB

You have quoted the RNS from 25th March, not the one today.

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.