Member Info for Impecunious2

I've just listened to the presentation, which I really enjoyed. He sounds like a slightly eccentric university professor, and I've always liked that type. On the negative side, I still think he should be releasing preliminary results, based on an XRF scanner, in order to reduce our dependency on this lab in Peru.

The Fibonacci retracement levels are 23.6%, 38.2%, and 61.8%. Looks like we're heading for the last of these (if you believe in them).

Hi, Bonker

I tried selling, and that was impossible, too. I'm resigned to my fate, which is to be a long-term shareholder.

I think this is good news; it's very sensible to have a second project, particularly one which gets us into a different commodity and a different country. Looking ahead a bit, it will increase the news flow. And it tells us that behind the scenes, Brad has been busy over the last few months.

Hi, Wayne

GGP had a unique advantage, which OMI cannot replicate, and that was being close to the Telfer processing plant; also, a more charismatic CEO (now retired, on his ample rewards).

But we live in the present, not in the past; and if one wants capital gain, OMI is the one to go for
(because of the assets, the backing of Newmont & Agnico, and the much smaller market cap).
The risk is higher, because Colombia is not a safe jurisdiction; look at the election result across the border, in Peru; and bear in mind that the police have recently shot dead 60 protesters, which is scarcely a formula for political stability. So it's a matter of assessing one's risk appetite.

I hold both, in a ratio of 2 to 1 (GGP to OMI); and some in Thor, but that's another story.

Hi, Magnum

I've pointed this out before; Newmont never exited from Havieron, but from Ernest Giles; also GGP, but completely different project.

Hi, the learner @19.32

The reason OMI can rise 90% in a day is that it has a much smaller market cap (as we did in 2015). GGP is a much safer bet, because we don't have the political risks inherent in Colombia (which are in my view substantial; the police shooting 60 people dead is not a formula for stability); but the rewards here are lower. The best thing is to have some of each (the ratio to be decided by one's risk appetite).

Hi, Jet @17.24

My account (like that of a slave) has recently been sold from Eqi (formerly Selftrade, Squaregain and Comdirect) to interactive investor; and I'm not happy about it at all. The costs are higher, and the website is ugly to look at, and a real mess. Also, logging in is a very lengthy process; they send a text message to your phone each time, which is ridiculous.

But I'm surprised that you say their platform doesn't recognise OMI; my holding there appears to be in a healthy state, but perhaps it's all an illusion.

Hi, Lenz @14.09

I'm always reluctant to criticise other posters; but in this particular case (I mean the man who named himself after a fish, or perhaps a guitar), I agree with you.

Best wishes

Hi, 1noise @15.46

Yes, but it was a very small quantity, even by my impecunious standards. But maybe Brad doesn't have much money, he has a daughter, and I understand they can be expensive.

Best wishes

Hi, TomE

Good to see you in a cheerful mood. I am too, as I hold OMI, in addition to GGP.

Best wishes

Hi, Expru

Message received. OMI may have better assets; but Thor has the better CEO.

Best wishes

It's odd that there was no substantial director buying at the low prices. But maybe it wasn't allowed; I'm vague about the rules on this.

Hi, expru

Good to see you here. It's nice to hold both, I think.

Hi, everyone

98% in a day is not bad going. Maybe GGP did this in its younger days, but I don't remember it. Some oil explorers have certainly done it; but I've never held them.

Also, we now understand the increase in volume noted by Bonker yesterday. Some clever souls must have deduced that Brad would not give a webinar, without having news to announce; and therefore the RNS must arrive this morning. They then gambled on the news being good; or perhaps they didn't need to gamble, because they had private sources of information.

Hi, MFU @9.32

Good to see you here. One has to have some money in a small cap, which GGP no longer is.

I'm delighted that my forecast of no results before August has been proved wrong. Well done to everyone who held or bought.

Hi, sharetrader @19.17

Exactly. I don't expect him to move his residence from Perth to Colombia, but a visit to the front line, in time of war (for Covid is a war), is not too much to ask. Surely, the last fundraise should cover the air fare.

Hi, Lenz @18.59

Thanks for posting the link. I enjoyed watching it. Andrew Scott asked the right questions (though he looked older and less happy than when I last saw him), and Shaun Day gave the right answers; and it was nice to see him smile. As for the endgame, it looks to me as if he's pretty keen on being taken over by Newcrest. As Walpole once said, "every man has his price," and there's no reason to believe that our CEO is an exception.

Hi, Hawaii @16.19

This raises the interesting question, why is he in Perth? It reminds me of the Blackadder scene (WW1 series) where General Melchett says to Private Baldrick, "I'll be right behind you," and Blackadder says, "about 25 miles behind, in a château, drinking red wine."

Best wishes