Member Info for Impecunious2

Hi, Paddy @13.45

I read Tosspot's post @13.33, and didn't understand a word of it. Couldn't work out if it was satire or not.

Best wishes.

Hi, FC

Thanks for the remark about trivia; as you say, it's much better than quarrelling. If I had anything useful to say about GGP, I would say it. But it's all already been said by people who know much more than I do.

Best wishes.

Hi, FC @12.54

Philip Larkin lived in Hull. I think he's a very good poet.

Hi, Greb @11.51

I share your doubts on this. We may have hit the bottom, but I'm expecting a U shaped recovery, not the wonderful V which we would all prefer. And I expect drilling results in August or September, but not in June or July. Covid in Peru remains a serious problem, as far as I can tell.

Best wishes.

Hi, Sojourner @14.14

Memories of "Moby Dick," but that's probably more appropriate for an oil explorer than a gold one. My father's grandfather made a fortune by looking for oil in Texas; and then lost it, by looking for more oil in Texas. These things happen to the best of us.

Hi, Colin @13.57

"Rocket" is the one that I dread. It brings back memories of Joebass and Scallywag.

Hi, Jet @11.13

Thanks for the info on this. I've just read his Wikipedia entry, with great interest. He appears to have made the same mistake twice; for in the early 1990's, he sold the Apple partnership contract (i.e. the document) for $500; it was later re-sold in 2011 for $1.6 million. Clearly, not a man with the Midas touch.

Link below, for those who've not read it.

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

I'd never heard of Ronald Wayne before. Of course, we don't know what he did with the $800; maybe he put it all into some other tech company that rose even faster. But probably not.

Hi, Happy

In a large company, of course there's an advanced division of labour, which will include a PR department; but in a small company, there's less scope for delegation, and the CEO has to perform the functions I mentioned.

Even in a large company, the CEO is always conscious that he or she is the public face of the company, and has a duty to represent it. For example, Sandeep Biswas, the CEO of Newcrest, gives regular video presentations, which are excellent, because he has a commanding presence and a thorough knowledge of the operations of the company. And Iikewise, Tom Palmer, the CEO of Newmont, recently found time to explain what that company was doing in a Kitco interview.

Best wishes.

Hi, EWT @16.32

Thanks for the reply, and also for the info in the first sentence of para 3 (I will investigate further). There's still no election result in Peru; but Pedro Castillo is now talking about taxing the mining companies, rather than nationalising them (an important difference for shareholders of Hochschild). In Colombia, I cannot say that I am altogether happy with a government which has recently shot dead 60 protesters. If this is a formula for political stability, I'm a Dutchman (a phrase which dates back to the Anglo-Dutch wars of the 17th c.; they won, we lost).

Best wishes.

Hi, happy @16.38

It's a fair reply, and I agree with the last sentence of para 2. But I maintain my basic point, which is that if one's a CEO of an exploration company, it's not enough to be a good geologist; you have to be good at PR, too (and finance, but that's another story).

Best wishes.

Hi, Up2

The defence of civilisation is not a party political matter (as it happens, my own politics are slightly to the right of centre).

Best wishes.

Hi, happy @15.53

The problem is, I don't think the sentiment is irrational (despite having £50k invested here). The delay in the lab results in Peru is all too permanent (the worst Covid death rate in the world, per head of population). What we need to see is Brad, with his boots on the ground in Colombia. It's no good hiding away, in his daughter's bedroom in Australia; he's my age, so he must have been double vaccinated. We need to see him, standing in front of a drilling rig, saying "The prospects here are excellent." If Nicole at Thor can do it, why can't he?

Best wishes.

Hi, TMT, jackthebear & starvest,

I'm with you on this. I've looked at the history (which is not so long ago; I was not alive at the time, but my father certainly was, learning how to use a sten gun), and what happened under the third reich is not something which should be repeated. This is part of a larger problem, which is (i) blaming minorities, whenever anything goes wrong; and (ii) placing all one's hopes in one fallible individual, the great leader.

The best thing about this billboard is the digressions. How much I appreciate them. One of my favourite anti-fascist photos may be found below. A French woman in Lisieux, Normandy, serving cider to a British soldier, in 1944. Note that her right shoe is too small for her, and does not match her left. Things were not so easy for the French, under the German occupation.

http://media.iwm.org.uk/ciim5/45/458/large_000000.jpg

Best wishes.

Hi, Vicjain

I think "despair" is the right word; but the problem is not really the falling share price. Investors, like soldiers, can tolerate heavy losses, if they have faith in their leaders; but if not, not. We need to see Brad and the other directors put in £100k each (which is nothing these days, to men in their position); and we need to have much better PR. I don't want to sing the praises of another company; but Nicole, the CEO at Thor, is always doing something to maintain the morale of the shareholders; and a 20% loss is much easier to carry there than here, as a consequence.

Best wishes.

Hi, napth

You're quite right. An RNS could drop any day, and Jesus Christ could return any day. But how likely is either event? Given the Covid problems in Peru, I think we're looking at August or September before we get any lab results.

Best wishes.

Hi, Godzilla

I'm sorry about the losses; these things happen to the best of us. I would hold; I wouldn't buy more, because that will increase your stress; but I would hold.

Best wishes.

Hi, Equilibrium

Yes, you're right. The continuously falling share price since the departure of Gervaise (not Glenn) is the ultimate tribute to his abilities. How happy he must be. It's just slightly unfortunate for the rest of us that we failed to sell the moment he announced his resignation. Shaun Day may be an excellent character; but at the present time he is best known to us as a destroyer of shareholder value.

Hi, Troajan

Thanks for posting the link to the interview. Nicole says drilling will last for six weeks, and that results are expected in "a few months time" (2.31).

It's a good interview, and I don't think we need to fuss about the share price. On the chart, the next support level is 0.75p; but charts don't work well for these small exploration companies; so we'll just have to tolerate whatever decline the market throws at us.

Best wishes.

Hi, Mr Positive.

I agree with you - trading this stock on small fluctuations doesn't make much sense, because the spread is too large. And, as you've said, it's very easy for a 1p share, with a small market cap, to double or triple. No-one even notices (except the shareholders).

Best wishes.