Member Info for Impecunious2

Hi, Orion

Thanks for this. I'm pleased your still commenting on Thor.

Best wishes

Hi, Jackbal

I'm optimistic on this, and believe 7 is the bottom (unless we get further bad news, which is always possible). Anyone who wants to sell, has already done so.

And as for the conspiracy theories, they may be right, but probably not. Newmont and Agnico do have reputations to preserve, and deliberate falsification of results I regard as highly unlikely. If I was Brad, I'd bribe a member of the drilling team to give me updates on what is happening in the field; but then I'm not Brad, and am sure that our CEO would not stoop to bribery.

I think we've reached the point, where everyone who wishes to sell, in response to last Friday's news, has already done so. So unless there's further bad news, I expect the share price to stagger sideways, until it's rescued by good news (when that will be, I have no idea).

Hi, sharetrader @12.02

You may be right, it's a clever hypothesis. Carried to its logical conclusion, Agnico would save money by doing no drilling whatsoever, and simply inventing results of complete, utter and abysmal failure. This would then drive down the OMI share price to 1p or below; at which point they would make a takeover offer of 2p; and we would rejoice at something being saved from the wreckage.

But of course this can't happen. We all know that established companies have high moral standards, and reputations to maintain. We do know that, don't we?

Hi, Bonkers

I agree. Selling POW now seems silly to me.

Hi, napth

Orosur wasn't in charge of the drilling. Agnico was.

Brad made it clear in the presentation that he would have done it differently (and I believe him on this).

I see my two modest buys (45,981 and 72,457) have shown up as sells. Nothing is more stupid than an algorithm.

I listened to the webinar carefully this morning, and think the following.

1. Brad and Louis are a good management team, and we're lucky to have them. In my view, they are doing the best they can to defend shareholders' interests, in difficult circumstances.

2. I continue to mistrust MMA (i.e. Newmont and Agnico); in particular, their reporting of drilling results to OMI (which are then passed on to us), and also their competence (drilling a hole in the wrong direction and at the wrong depth does seem something of a blunder).

3. I'm happy about the two projects in Brazil and Argentina; it gives us some diversity of resource and jurisdiction, and may turn out well.

There seem to me to be two separate problems.

1. Who is most competent to do the drilling? Brad's remark (as reported by Dr at 10.51) that MMA were drilling in the wrong direction is deeply disturbing.

2. Are the results of drilling fully, honestly and promptly disclosed? When I was invested in GGP, the thought never crossed my mind that Newcrest would delay or conceal the results. But now the thought crosses my mind all too frequently that MMA may be doing exactly that.

Hi, Bhargav

Thanks for this, which is very informative. Well done going to the AGM.

Best wishes

Hi, Pebsi

The last sentence is very poetic. I couldn't put it better myself.

The grim reaper catches us all.

I note with interest that Huntingforgold and Snake37 set up lse accounts on the same date, 16th November 2020. Perhaps they know each other, or perhaps not.

Which reminds me of an excellent joke. I was teaching a French man, aged about 30, a few years ago, who was married to a Chinese wife. Whenever he said, "I love you," she replied, "I feel the same way, I love myself, too." Which is perhaps not the reply, he was hoping to hear.

About two years ago, someone (i cannot remember his username) wrote on the GGP board, "never buy into an exploration company, if the CEO is a geo." He was right about this. Geos wish to carry on drilling; they enjoy it, and it pays them a salary. What one needs is a finance man, who wishes to raise the share price.

GGP was a complete failure under Callum Baxter, geologist; it turned around from the time Gervaise Heddle, financier, was appointed. So let us hope that Brad's successor is not a geologist.

U.S. developing domestic uranium strategy -energy secretary | Reuters

https://www.reuters.com/markets/us/us-developing-domestic-uranium-strategy-energy-secretary-2022-10-26/

Hi, Shenners

He may not even know, because he only knows what MMA choose to tell him.

Hi, Webbs

How right you were. "Brad will probably give us the info on the worst hole they have drilled," 20th November. But you failed to anticipate the suspension of drilling.

Hi, Chicken

Thanks for the reply. I'm not dogmatic on this; I may be wrong, I often am.

I'll probably sell some in the teens, and hang on to some. I have more than a million, which is less than some of our more ardent friends here.

Best wishes

Hi, Soub

There's no way of telling. Could be 10p, unlikely to go below that; or on the upside, 25 to 30 pence. The history of OMI is one day spikes up; followed by gradual decline to previous level. This happens to many other AIM shares, too. The GGP phenomenon in 2020 (rises and rises again) is very unusual; requiring a charismatic CEO and favourable market conditions, in addition to consistently good (and regularly released) drilling results. Could it happen here? If so, I'm a Dutchman, and I was born in London.

Déjà vu.