Member Info for Impecunious2

Hi, Yorkist @9.31

It seems to me a very reasonable question. Unfortunately, I don't know the answer.

It's difficult to disentangle the weakness of the sector from the weakness of the OMI share price. All the junior miners/explorers I hold or follow have had a dismal 2022, so maybe we shouldn't attach too much blame to Brad.

Hi, Diadulus

I think the only thing that's going to push the share price permanently upwards is getting Alford East into production (possibly 2024) or a joint venture on Molyhil. Good exploration results elsewhere will cause a spike upwards, but it won't be sustainable.

Best wishes

Hi, Vicjain

I think that part of the problem is that Newmont/Agnico are not giving us regular updates. Contrast Newcrest over at GGP, who gave drilling updates every six weeks, which is what drove the share price higher from January 2020 to January 2021.

Hi, Bhargav @15.37

I like your third sentence. But maybe a dead man walking should be trusted, for he has nothing left to lose.

Also, in Brad's defence, there is a difference between old age and death. Everyone thought Winston's Churchill's political career was over in 1939, before he became prime minister in 1940.

Best wishes

Hi, Expru

A small amount in Shanta Gold, and a residual holding in GGP.

Best wishes

Hi, Portfolio @Friday, 15.06

I think the CEO you refer to in para 4 is Paul Johnson, of POW. I remember the upset he caused by selling out of GGP. We thought, "is he right? does he know something we don't know?" In fact, he was wrong, and knew nothing at all. Despite which, I must confess I have recently purchased some shares in POW (though much less in value than my OMI holding).

Best wishes

As you may have noticed, POW share price has been rising recently. This is good news for Thor, because Pilot Mountain was sold for some cash, but mostly POW shares (which Thor is allowed to sell in batches, at different times in the future).

I hold both myself, and assume this is true for many others.

Hi, Markaja

Yes, I too had noticed that it was rising without any obvious reason. But maybe that's the better kind of rise; for rises caused by news are usually reversed the next day (I am speaking generally about AIM miners/explorers, not in particular about POW).

Best wishes

Hi, everyone

This mysterious "unknown" transaction at 15.22 (869,044 at 1.725) is a buy, by myself. I count myself lucky; thought I'd have to pay 1.75. Tried to buy more, but it wasn't possible in one transaction.

Hi, everyone

I tried to put in £10k, and was told it was beyond the online market size. So the jobbers must be short of stock.

Hi, Portfolio

Well done with the posts. These things take a lot of time and effort.

Best wishes

Hi, Stout

Good to see you here. I'm in, too.

Best wishes

Hi, Pebsi

I'm not advising anyone to sell OMI, and have no intention of selling my holding at the present price level. But I'm not willing to buy any more either.

Best wishes

Hi, Biker

I had some money to invest, and was about to put it in here, when I heard this divine voice, saying "No." So I put it in Shanta Gold instead; the difference is (i) they're producing gold, and making a profit; and (ii) the directors own 6.5% of the shares.

Hi, BTB

I really enjoyed reading the first sentence of your post yesterday (16.08). It's very true, and something I hadn't thought of before.

Re your username, you've probably heard this already; but here's a link to Neil Hannon, "The Complete Banker."

https://m.youtube.com/watch?v=F52bo1Gid5I

Thanks, Dr.

As mentioned, the first round of the election is at the end of next month. Gustavo Petro, the left-wing candidate, is ahead in the opinion polls. What his policy on mining is, I have yet to discover. But in 2018 (as presidential candidate), he was opposed to any expansion of the mining industry. So we have to hope he's changed his mind; or that he doesn't get elected.

https://americasquarterly.org/article/meet-the-candidates-colombia/

https://en.wikipedia.org/wiki/Gustavo_Petro

I'm delighted to see any movement upwards. The presidential election in Colombia is next month; but I've not been following it, as the news in Ukraine has held all my attention.

Hi, Expru

Thanks for cheering me up on this.

Best wishes