Member Info for Impecunious2

Here's an excellent interview with Paul Johnson, CEO of POW. I don't hold any shares in POW myself (except indirectly through Thor); but may buy some in the not too distant future.

https://www.youtube.com/watch?v=HzJvkTQTQp8&feature=youtu.be

I have thought further about the two events last week. Perhaps they're connected. Maybe Billing opposed the sale of Pilot Mountain, was then outvoted by the board, and felt he had to resign (whereupon the others went "yipee").

It is possible to read Nicole's statement as a piece of irony; "we have greatly appreciated his significant contribution, etc."

The sale of Pilot Mountain (although mostly for shares, not cash) will certainly help us, by reducing the need for further dilution. There will be more fund-raising, but less than there otherwise would have been. And we have to hope that the share price of POW rises, rather than falls.

On a more personal note, I am enjoying my time as a shareholder here (despite carrying a perceptible loss), because the company is interesting to follow, and to speculate on (in both senses of the word).

Hi, Illaquens @15.58

I certainly agree with your second sentence, and particularly like the words "the executioner," which conjure up images of the guillotine and Marie-Antoinette in 1793.

If it is Potter, I think we're lucky, but he's more likely to put in some one else. That he is the power-broker, I have no doubt.

Best wishes

Hi, Expru @15.37

This is not going to happen; but if it did, the share price would triple immediately. Gervaise has a lot of followers, for reasons too obvious to mention.

Best wishes

We're now waiting for two kinds of news. Drilling results, and the appointment of a new chairman.

There was clearly a coup d'état against Billing. Did he jump or was he pushed? He was pushed, and rightly so.

Under new management, and with our present assets, the company has a bright future. I don't expect another GGP; but I do expect decent profits for us all.

Hi, Robbie @15.03

The similarity I've noticed is between the share prices of GGP and OMI. Uncanny. Of course, completely different companies, with very different market caps.

I hold both, which seems a sensible thing to do.

Best wishes

I'm surprised the share price hasn't risen. Although Billing's departure is important to us on this chatboard, most people don't know, and are not interested. This is despite Nicole's PR, which is excellent.

One day, this will change, and the herd will arrive. And then we will be able to say, "we were there first."

I'd be happy to see Potter appointed chairman. He's a finance man, and therefore would balance Nicole, who's a geologist. The only problem is, he may be too busy (as chief investment officer of Metal Tiger, and chairman of Artemis).

Hi, Burleigh

It's Nicole, not Nicola.

Best wishes

Hi, Hoopy

My guess is that our non-executive director, Mark Potter, has been active behind the scenes. Artemis (of which he is chairman) has put money into Thor, and therefore has good reason to ditch Billing, and go for new management.

I regard this as good news. Since June 2007 this company has been a calamity for the shareholders, so we're better off without him. How bsg will manage without his punchbag, I really don't know.

Presumably, the company will have to appoint a new (non-executive) chairman. Step forward, Gervaise Heddle, and rescue us in our hour of need.

Hi, tweenie @14.25

Every board has its perma-bears; and bsg and scorpio2 are excellent at what they do, which is to depress sentiment. It's a strange hobby, if one thinks about it.

The 48m shares in POW can be sold, but not all at once.

"Thor Mining will hold the Initial Consideration Shares in full for a minimum of 6 months after the Option Exercise date, and thereafter the Initial Consideration Shares will become freely tradable in 25% instalments (25% tradable 6 months after Option Exercise date, 50% after 9 months, 75% after 12 months and 100% after 15 months.) This trading restriction period may be varied by both parties with written agreement."

The warrants give Thor a long term interest in POW (which is fine by me, as I'm an admirer of Paul Johnson, for buying into GGP at the bottom).

This is the second piece of good news today. I'm still taking it in.

https://www.londonstockexchange.com/news-article/THR/sale-option-pilot-mountain-project/15117135

Hi, castle

It's the end of the summer doldrums, that's why. Happens almost every year. Sell in May, and go away,/ Come back on St Leger's Day" (this year, 11th September).

I'm pleased by the rise; but don't believe it's got much to do with GGP. OMI is up by about the same amount, also for no obvious reason. The summer doldrums are over. Don't forget to sell at Christmas, before the next crash.

Hi, Sector @ 10.41

I agree with you about Brad. He's my second favourite CEO (after Nicole Galloway, at Thor).

Best wishes

Hi, bsg

What you need to bear in mind is that the past is not a reliable guide to the future. "Past performance is no guarantee of future results." GGP is a clear example; after a decade of decline (I know, because I was holding it), it rose from 2p to 35p in 2020; and then this year, has performed dismally, down by 50%.

So the fact that Thor has performed badly in the past, tells us exactly nothing about the future.

Best wishes

Hi, Dr @18.20

Thanks for correcting my moment of pessimism at 17.54. You're certainly right about the grades; I'm not a geologist, but even I know excellence when I see it.

Best wishes

Hi, Seingred @ Fri, 21.02

You're right about this. GGP was an exception, and it's a mistake to base one's decisions on the hope of seeing it happen twice. And perhaps, as you say, it's already happened at OMI. Most of these AIM shares spike on good news, then fall back to where they were.

Best wishes