Member Info for Impecunious2

It's interesting that the volume has picked up a bit today. Anyone buying at 0.4 has a good chance of selling at 0.5 before Christmas (which is a 25% gain). But as for anything beyond that, go weep.

Hi, Beau

I'm rather more supportive of Nicole G than some of the other commentators here. But I do agree that changing the name is a sign of failure. I've seen schools do it, I've seen companies do it. We should stay with the old name.

Thursday, Friday or Monday for the news.

Also, Mapp's right about how nice it would be to see a sustained rise. But it's not going to happen; we're caught in a permanent trading range between 10p and 20p; like one of Dante's circles in hell.

It will be interesting to see which companies take up the new shares; presumably, not Artemis or Metal Tiger, both of which sold recently.

Hi, Roger

Thor may be selling; but given that they've announced a fund-raise today, they are now under no pressure to do so. My guess is that Nicole, the CEO, intends to hang on to her POW shares for a few months.

It's good to see some buys coming in. The share price has held up much better than I expected. Any good news, and we'll be back up at 0.5, no problem.

Hi, Sotolo

None of us need feel guilty about making money on shares. The risks are so large, that any profit is well-deserved. But I think Johnny meant "gilt-edged," with a reference to gilts. It's a long time since I held any of those; though I did well out of them in the '90's, when interest rates were falling.

Best wishes

Hi, Beau

If you look at the trades going through, the spread is certainly not 28%. People are selling at 0.399 and buying at 0.4233 (which is about 6%).

Buying after a fund raise usually works out well. The share price staggers sideways at the level of the raise for about two weeks, and then starts to recover. The problem today is that we don't yet know the price of the new shares; so if I was going to buy, I would wait until Monday or Tuesday, when we will have the info.

The turning point was yesterday afternoon, I think. Given the right news, we'll be back in the teens soon enough. But 20 p is a major resistance point.

Perhaps Nicole intends to hang on to some of those POW shares for a few months, given the newsflow there.

We shouldn't blame Nicole for selling POW shares; she's doing it to protect us, by delaying the next fund raise.

There's then a separate question about the price she accepted for Pilot Mountain, which looks to have been too low.

I'm not happy that Paul Johnson, Artemis and Metal Tiger have exited (as noted by Snooz); but the quality of the assets should see us through. In particular, we need to get the Alford copper into production, using ISU. And to get Molyhil into production; it's had a feasibility study, and is commercially viable.

Hi, Tray

You're right about this. I hold both, and can therefore be regarded as an impartial witness.

Hi, Paul

Probably not yet. There are still some POW shares to sell.

Hi, Ginger

It might be Thor, selling some of the proceeds from the sale of Pilot Mountain. They're short of money at the moment, and the CEO is probably trying to avoid or postpone a fund raise.

Hi, Rob and Vicjain

As you may have guessed, I agree with both of you.

The problem here is that there's no regular newsflow. What drove GGP higher in 2020, was the update every six weeks from Newcrest (plus favourable market conditions). Here, the consortium of Newmont and Agnico has no particular wish or intention to update us at all; and I'm sure many of us fear that they're keeping the best results secret, in order to hold the share price down, prior to a buy-out of Anza or the whole company (the assets in Brazil and Argentina would then be sold).

I managed to buy a few more today. It's a company I'm happy to be invested in. Paul Johnson, the Gervaise Heddle of tomorrow?

Hi, breaktwister

The contrast with POW is interesting. POW rose sharply on good news in August, but has managed to hold on to most of the gains.

Hi, Elsgly

If it's any comfort to you, I held GGP for ten years, before breaking even. At the low point, I was more than 90% down.

I think the plus points here are (i) the CEO, Nicole Galloway; (ii) the copper in South Australia, which should go into production in 2024; (iii) Molyhil, which has had a feasibility study done, and Nicole now intends to sell or jv.

The other stuff is exploration, and may or may not work out.

Hi, Herne

Yes, it is rather sinister. Perhaps the market makers have the power to suppress any posts which are unfavourable to them. One of them had a vendetta against me once, but that was in 1978; so I presume he is now retired or deceased. They were called jobbers in those days.