Member Info for Impecunious2

Hi, Elric

Fortunately, we're not investing our daughters in this particular project, only our money. I believe the other kind of thing was outlawed by all civilised nations long ago.

Hi, Norway

Take it easy on Skint. He seems a decent type. Of course, you're right about the recession and the media; but there's no point in quarrelling amongst ourselves.

"Blessed are the peace makers," etc.

Best wishes

Hi, Beau

Someone sold this morning to raise £8,363. He (or perhaps she) probably needed the money, which is peanuts these days. It's not a judgement on the company.

The problem is, that volume is so low on this stock, that very small buys or sells have a large influence on the supposed price. I say "supposed," because for larger amounts, one only knows, when one tries.

These sells may be coming from Thor. They have sold shares worth AUD 350,000 in the quarter July to September, and at the end of September held 35m shares with every intention of selling more ("every intention" is my understanding, or misunderstanding, of the latest report). This is not some vendetta against POW by Nicole Galloway ; she has to sell, in order to protect the Thor shareholders from dilution.

I hold both, and therefore can see both sides of the question.

Hi, Tweenie

Unfortunately, bsg may be right. Nicole G is doing what she can to protect us from dilution, by selling shares in POW; and there are more that she will probably sell in the next few months. But unless she manages to sell Molyhil in that time, I think it quite likely there will be a fund-raise in January or February.

The only thing to rescue us from this predicament of dilution (and bsg saying "I told you so") is copper production in South Australia (which is where Nicole lives), presently scheduled for 2024.

I have one third of my capital in Thor, and believe it's an excellent company to be invested in.

Hi, Seingred

I'm with you on this. But that you already knew,

Best wishes

Thanks for this, Norway.

Hi, Nookie

It's silly to sell now. You can either hold for the long term, or sell on the next spike. But selling now doesn't make any sense.

Interviewer: "Please can you talk us through your latest set of results." Brad: "Well, I can, but they're rather boring."

What a start to an interview - I didn't know whether to laugh or weep. As Norway has said, the contrast with Paul Johnson at POW (or even Nicole Galloway at Thor) is pretty striking.

Despite this, I actually quite like his speaking style, which is simple and direct. He's honest about difficulties (e.g. moving the rigs in Anza), and I'd rather have that than euphemism or mendacity.

Hi, Snooz

I'm a great admirer of Paul Johnson, and hold POW (as well as Thor and OMI). But he doesn't get everything right. He sold masses of GGP just before they took off. Let's hope he's making the same mistake here.

Hi, Jackbal

I agree with your post of 13.24, absolutely.

Best wishes

Hi, Roger

Yes, you're right. Once a schoolmaster, always a schoolmaster. Here's a video of myself teaching a very young Rowan Atkinson some years ago.

https://m.youtube.com/watch?v=tTv5ckMe_2M

Hi, Corby

"Risk being so minimal" should read "risk appetite being so minimal" in Roger's post on Saturday. Then it makes perfect sense.

Thanks for the reply, Jackbal. Yes, I'm well, still teaching aged 67, I'm pleased to say.

Hi, Jackbal

Exactly. The only argument against trading, is that some of us have other things to do. But even then, one can use limit orders.

Hi, Webbs

I agree with you on this. They moved far too late on inflation.

I'm all in favour of them. They reduce the emotion, because you can set them at the weekend, when the market is closed, and you can think clearly; and they leave you lots of time to do other things. I've set some sell orders slightly below 20 (which is an obvious resistance point), and then some more in the mid and upper 20's.

The only problem is, one has to guess what the market size will be on a busy day (i.e. a spike upwards). 150k (shares not £) will go through, based on my experience last time.

I don't see the gold price recovering until the Fed stops raising interest rates.

Hi, Tin

It's not this. It's just people selling small amounts to cover their living costs. With a stock this infrequently traded, one only has to sell £1,000 or £2,000 to push the price down.

Hi, Aquae

Your mention of "widows and orphans," made me laugh. I'm an orphan (both my parents have died); but at the age of 67, I consider this an entirely suitable investment for myself.

Best wishes