Member Info for Impecunious2

Hi, Redtrader @15.34

Very interesting point about the rise and fall of empires. The Roman empire fell (as Gibbon has recorded); then later, in the 19th century, the Spanish empire in South America, and in the second half of the 20th century, the British and French empires. And today the position of the US as global superpower is certainly under threat from China. Taiwan is the most likely flashpoint.

Best wishes

Hi, Starbright @15.17

Your point about de-risked reminds me of GGP, which was described as "de-risked" at 36p in early January, shortly before falling to 18p, from which (six months later) it has not recovered. There are warning signs on these billboards; notably, some idiot drawing a rocket, with the word "boom" inscribed underneath; and a lively discussion of the rival merits of Porsche, BMW, Aston Martin, etc. I'm a pedestrian myself, and intend to remain so.

Best wishes

Berenberg may be the oldest merchant bank in Europe; but they weren't much help on GGP. Put out a target price of 33 p in December, shortly before the share price fell from 36p to 18p, since when it has stagnated.

As don't panic implies, these price targets are meaningless, unless a timeframe is given.

Hi, Stap

Luckybob, Musicman and Forseti are right. Don't do it. If you have other assets, you could sell them; but don't go into debt.

Besides your average of 26p is nothing to be ashamed of. If this project turns into a gold mine, you won't be fussing about whether you bought at 20p or 26p.

Best wishes

David Lin interviews Jeff Christian; both are excellent, as always.

https://www.kitco.com/news/video/show/Market-Analysis/3498/2021-07-12/Political-violence-or-a-recession-whats-more-likely-Golds-strongest-drivers---Jeff-Christian#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DMarket-Analysis

David Lin interviews Jeff Christian; both are excellent, as always.

https://www.kitco.com/news/video/show/Market-Analysis/3498/2021-07-12/Political-violence-or-a-recession-whats-more-likely-Golds-strongest-drivers---Jeff-Christian#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DMarket-Analysis

Hi, Johny @16.14

You're right about this. As I've said before, the political risks are greater than GGP; but OMI is still the best bet among junior miners.

Best wishes

Hi, Masks

I think "boarder" should perhaps be spelled "border."

Hi, Allstar @9.56

My major concern here is nothing to do with the company, nor with the amount of gold and other metals under the ground; it's political risk. If you look across the border at Peru, this Jeremy Corbyn figure, Pedro Castillo, has been (narrowly) elected, on a policy of nationalising the mines (since diluted to a policy of taxing the mining companies heavily). Could it happen in Colombia? Yes. President Duque is not well-loved, perhaps because his riot police have recently shot 60 protesters dead. There could be a revolution; or a swing to the left in the presidential election next May. That is why I shall not be doing here what I did with GGP in December 2018, which was to put all my capital in.

Best wishes

Hi, Epic @15.51

Don't be too cruel on Affy. Everyone makes mistakes.

Hi, Adrian @15.30

Ditto to paras 3 & 4.

OMI seems to be taking a second leg up. I don't recommend buying it, but it's nice to have that sense of adventure, which comes from holding a small cap. GGP will never be a small cap again, and as for the stagnant share price, it's enough to make a man weep (this one, anyhow).

Hi, Bonker

I think you're right, a second leg up is entirely possible. Personally, I hope it stabilises in the upper 20's, until further news.

Best wishes

Hi, Masks

Thanks for posting the link to the new interview; I would have missed it, otherwise.

Hi, expru

If I have a guardian angel, he must be asleep on the job.

Best wishes

Hi, Carl

There should be some support at 17, which is where the last fund raise was. Also, we now know that the lab in Peru is functioning, even if with delays; and that results at Apta are excellent (contrary to Ageos' rather gloomy forecast on 18th May). And now a lot more people know about the company, because that 90% rise in a day attracted attention. So it may go back to 14, but I think it's unlikely.

As for selling out at the top, it's easier said than done. I remember selling GGP in 2017 after a 90% rise, and then to my chagrin, it did another 90% (and this was before Havieron and Newcrest).

Best wishes

Hi, chicken, happy, shure and expru

Many thanks for your expertise. It's nice to be in the company of those who know what they're talking about.

Best wishes

Hi, shure @16.09

Thanks for correcting me on this. I'm a history and literature man, and know nothing about geology (which may explain why I've lost so much money on mining shares), and therefore defer to your greater knowledge.

Best wishes

Hi, Jet @15.07

Thanks for mentioning MTR, which I regard as fairly safe, because of the NSR on the Sandfire mine in Botswana. POW I had never heard of, but reminds me of prisoners of war. E79 sounds like a U-boat. "What the enemy will do next, we cannot tell" (Churchill).

Hi, masks @15.23

It's a fair point, I hadn't thought of that.