Member Info for Impecunious2

Brad is almost certainly in Western Australia, which is where he lives. There's nothing wrong with this at all. The company employs two geologists (whose names and short biographies are on the website), and they can supervise the drilling at Pepas, cut up the core samples at the Apta base, and conduct any further field work. The analysis of the results and decisions about where to drill next can be taken by Brad anywhere; the location makes no difference.

There's nothing wrong with having a voice of pessimism on the chatboard; but someone who can confuse Pep 18 and Pep 19, and recently showed that he didn't know what day of the week it was, is not thinking clearly, and has acquired little, if any, knowledge of the company and its operations.

Hi, Happy Haddock (whom I remember from other chatboards)

I must correct you on the last sentence of para 3. There may be traders who chase momentum; but many of us do the opposite, i.e. sell when other people are buying, and buy when others are selling. I say "us," because I now belong to that fraternity.

Also, I do have an interest in the long term prosperity of the company. I don't do shorting, so the only benefit of a falling share price, is that it allows me to buy more shares than I had before. As mentioned, I am now 100% invested in OMI; with no house, and no other assets. How many others can say the same?

Best wishes

You may be right, John. But there are risks either way. For all I know, the 1832 fund may announce tomorrow morning that it has increased its holding. Also, there was that odd afternoon before Christmas when the price surged on no news at all (some internet influencer, perhaps).

I am back in this morning. Two transactions, one at 6.45, the other at 6.497. Number of shares purchased, 171,266; number of shares sold on Monday, 146,053; number of shares gained, 25,213.

I should have done it on a larger scale, but I'm still serving my apprenticeship.

I hope Dr is right. But it's possible that neither John nor Dr is right, and OMI makes modest, but not spectacular gains, from the present level. Another GGP would be wonderful; but if you look at Brad's tweet yesterday, he is saying that getting to a bankable feasibility study is a long and complicated business. 241 pages are guaranteed to strike terror into the heart of the reader (unless it's a novel by Fielding or Thackeray, of course).

I have already made it clear that I have no wish to offload. I'm buying back tomorrow morning, and the purpose of the transaction is (i) to transfer capital from the dealing account into the ISA, and (ii) to increase the number of shares I hold. As I have no new money to put in, trading is the only way I can achieve the second objective. Seingred has already discussed this point.

If one has a large holding, trading part of it does make sense. I regret having sold only 7% yesterday morning; and wish it had been 20%. Lesson learned for future reference.

Hi, Aden

Any financial advisor would support you in those decisions. But ultimately, it's a matter of lifestyle and personal choice. I don't have anyone else to provide for; and was rather hoping that OMI would go bust, so that I could then claim pension credit and rent allowance, which I can't do at the moment.

I like reading your posts, which are more rational and well-balanced than many others. Stay with us.

Best wishes

I have been investing like that since 2010, am in excellent health for someone of my age, and generally regarded by those who know me as compos mentis. As mentioned it was 100% before 8.45 this morning, but I had to switch some from the dealing account into the ISA.

I should also point out, that I do not own a house, a motor car, or any other assets.

I have absolute confidence in our CEO. If I didn't, I wouldn't have 93% of my capital invested here (the other 7% goes back in on Wednesday, as mentioned).

I also find him entertaining, but that's another story.

The institutional buy mentioned in para 2 by John, is not a story; it's a fact, and in my view a significant one. The Bank of Nova Scotia is unlikely to be investing on a whim, or after a few glasses of white wine.

The document attached by Brad to his most recent tweet, "The Independent Technical Report and Resource Estimate on the Buriticá Gold Project, 2015," runs to 241 pages, before one reaches the appendices. I expect everyone here to read all of it, and post detailed comments on the chatboard.

Nice one, Ezhik. I can't buy back myself before Wednesday, because of the T+2 delay on moving money between accounts; but would be surprised if the price is higher by then. Probably the same as now, or slightly lower.

"Lo" not "low" in para 1.

I see the share price peaked earlier than usual today, at about 8.10am. On the previous occasions that I remember, it has been 8.45 to 9am. If one is trading, I think one has to accept that one will almost never get it exactly right; and be content to get it approximately right.

The golden rule is to sell on the good news, particularly if new rampers are appearing on the chatboard, and people are posting emojis of rockets, which is a sure and reliable sell sign. Then buy back a few days later.

I confess I sold some at 7.6 (at a loss, I should say); but this was done for tax reasons, in order to switch capital from the dealing account into the ISA. Not all trading is trading.

You may be right not to sell, Soub. The rise has been small, so the subsequent fall should be small. And one has to consider the spread.

It usually peaks at this time of day, after a good RNS.

Hi, dryland

Take it easy on nap. I know I have teased him in the past, for using emojis; but his heart's in the right place, and that's what matters.

Best wishes

I feel a lot calmer at this level than I did at 2.5.