Member Info for Impecunious2

It's good to see some positive comments, and less anger, today.

Adversity is a test of character; those who remain cheerful and good-humoured pass; and those who don't, don't.

Hi, Isleworth

The text is as given in my post of 15.42.

Here's the link.

https://twitter.com/OrosurM/status/1765385844611756054

Thanks for this, Karl

It's important to hold to a middle position between too much hope and too much despair. And as your posts have always tried to do this, I've much appreciated them.

If there's good news about to break, I don't understand why he did the fund-raise three weeks ago. It makes no sense to me.

"Last day of PDAC. Good show as always but very sombre mood for explorers needing finance. Thus vital we get drilling at Pepas asap. Good progress with our partners on the Anza transaction- pens poised."

I now see my reply applies to both.

Hi, Dr

My mistake. "Chicken" should read "Dr."

Hi, Chicken

I note that our two messages contradict each other (though I hadn't read yours, when I wrote mine).

There are two ways of looking at it. (i) Those deep underwater will want to hold, in order to get back to break-even. (ii) Those who have suffered so much, just want to put this nightmare behind them, and buy a better stock.

Best wishes

It's hard to see this rising very much, because a lot of us will sell some or all at 4 or 5 p, in order to switch into a company where the managers are more competent, and themselves shareholders (GMET is the one I hold, and want to buy more of).

I suppose the argument against this, is that the sales of the long-suffering will be outnumbered by the sudden arrival of new buyers. Maybe.

Hi, Wolfy

Break even? I'd be delighted to get out at a 50% loss.

Thanks, Bhargav

I regard myself as a mixture of court jester, and court historian.

Best wishes

Thanks for this, Karl. I don't understand the procedures for a takeover, and have no idea whether a major shareholder (in this case, Newmont) could block a takeover, if the CEO and chairman wished to capitulate.

With regard to Bhargav, it's true he has oscillated between extreme hope, when the share price has risen, and extreme despair, when it has fallen. Logically, of course, one should do the opposite; but this is easier said than done.

This is not a new problem. Here is Alexander Pope, the most famous poet of the 18th century, in August 1720.

"I was made acquainted late last night, that I might depend upon it as a certain gain, to buy the South Sea-Stock at the present price, which will certainly rise in some weeks, or less."

He bought, and four weeks later, was looking at a 63% loss. The share price never recovered.

Thanks for the reply, doctor.

If the market cap comes down to £2m or below (entirely possible), why would any company bother to negotiate a joint venture on Anza? It would be quicker and cheaper to buy OMI, and then sell off (or develop) the other assets.

Well done, Jeb. It always takes courage to apologise.

Generally, I think this chatboard is remarkably good-tempered, compared to some others I have looked at. I also think it's quite OK to have a mix of expertise and knowledge, on the one hand, and cheerful remarks by people such as myself, who know very little, on the other.

The broker fees do seem a rip-off to me.

"Turner Pope Investments (TPI) Ltd ("Turner Pope" or "TPI"), the Company's joint broker, received a fee of six (6) per cent. of the funds raised in the placing (£30,000), a corporate finance fee of £30,000 which also covers its legal expenses, and will receive a commission of six (6) per cent. of the gross value received by the Company from the exercise of the warrants described above, if any are exercised during their two-year exercise period. TPI also received 1,694,915 broker warrants equal in number to ten per cent. of the New Common Shares, exercisable at the placing price at TPI's option at any time in the five years following Admission."

Catherine McQueen is always smiling, presumably because she's not a shareholder.

Hi, Jackbal

I have never heard the words "creating value for shareholders" cross Brad's lips. I suppose we should praise him for his honesty; he's never said it, because he doesn't believe in it.

"Abandon hope all ye who enter here" (Dante).

Very possible.

Hi, Roger

You've done the same as me, and some others. It makes sense, I think.