Member Info for Impecunious2

Hi, Tig @15.24

The last time I came across that word, was when I was teaching "Othello." "Even now, very now, an old black ram is tupping your white ewe" (Act 1, scene 1).

Best wishes.

Hi, Seingred @00.13

I certainly agree with you that the UK government made terrible mistakes in the earlier stages of the pandemic; and that the crisis was managed better in Australia and New Zealand (and some other countries, of which I know little). But the vaccine programme here has been a success; "it's so liberating," as a woman in her sixties said to me yesterday; which is why Boris Johnson is doing very well in the opinion polls. Here's Andrew Rawnsley on the subject.

https://www.theguardian.com/commentisfree/2021/jun/13/vaccine-euphoria-will-wear-off-labour-must-be-ready

I should add that I have never voted Conservative in my life, and probably never will do.

Best wishes.

Hi, Sotolo @8.29 & 8.39

It's always a pleasure to read your posts, because they're so wonderfully disillusioned. But I still think PR is important for a company, even a mining company. As mentioned, I'm now in Thor, as well as OMI; and I appreciate the CEO there making the effort to put out a video of herself standing beside a drilling rig somewhere in South Australia. It won't make any difference to the results; but it shows she cares about the shareholders, and that's important to me, and probably to the others, too.

Best wishes.

Hi, whatin @16.41

I don't really agree with this statement, although it's quite funny. If one's talking about Covid risk, some countries are safer to live in than others. If you live in the UK, and are aged over 50, you've probably had two jabs; over 30, and you've probably had one. The vaccination rates in Peru and Colombia are low; and Peru has the highest death rate (relative to its population) in the world.

I'm not a great admirer of the present UK government; but the most important thing, they got right.

Best wishes.

Hi, BDU @16.13

This is a very interesting post. I had no idea about von Schirnding, until you mentioned him; his name reminds me of von Spee, for some reason (who had a distinguished career in the German Imperial Navy, but unfortunately met a watery grave off the Falkland Islands). Anyhow, I see he was appointed as a non-exec on 12th January this year. You may be right.

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

Best wishes.

Hi, Vicjain @12.11

Thanks for the reply. I thought I was going to get persecuted for having sold some; but actually the people on this billboard are a decent bunch; which makes it all the more disappointing that we've been clobbered by misfortune, or let down by poor management (depending on one's point of view). Every now and then, I ask myself if another CEO would have flown the samples out to the US, or somewhere safe.

Best wishes.

Hi, Vicjain @11.20

I must confess that I sold part of my holding last week (at a 20% loss), soon after reading Brad's tweet that "industrial gas capacity (in Peru) is now redirected to producing medical oxygen" (which I took to mean, we could be waiting months for results). I switched into Thor, which I think is likely to produce results before OMI (also, the safer jurisdiction and a female CEO, I regarded as plus points).

Taking a loss is never easy, but most professionals advise doing it, if the circumstances have changed (as they have in this case, for when I bought, I did not anticipate that the drilling results would depend upon vaccinating the entire population of Peru).

I still have about £50k invested here, which is certainly a lot more than the directors do.

Best wishes.

Hi, Forseti @10.05

I don't know where you get this figure of 205k from. According to the RNS of 6/5/21, Brad holds 92k shares, and Louis holds 85k shares. These holdings are now worth about £13,340 and £12,325 respectively; otherwise known as peanuts.

https://www.londonstockexchange.com/news-article/OMI/directors-share-purchases/14965392

The assets matter most; but it's good to find a company which knows how to do PR, too.

Here's a link to the Twitter account, which is excellent.

https://mobile.twitter.com/thormining/status/1338770806378278912

Hi, Jet @12.35

Very interesting post. I suppose a cynic would say that TMT is moving from one cult to another (for there is something cult-like about the worship of GGP, although we've lost our great leader). But I'm no cynic; and TMT has always struck me as one of the most intelligent and rational posters here; so presumably well-able to look after himself.

Best wishes.

Hi, Dryland@17.46

If you sold 75% of your holding two weeks ago, I think you've done rather well, because you've saved yourself from the most recent decline. On your second point, I agree with you; if the chairman and CEO have not put in a decent amount of their own money, one does begin to wonder if all is well. For what it's worth, I think the long term prospects of the company are excellent; but the short term prospects (I mean over the next two to three months) have been blighted by an external misfortune, and that is Covid in Peru. Without drilling results, an exploration company is nothing.

Hi, User @16.27

Do shorten my name any time you wish. My capital is certainly a lot shorter than it was in January, as I failed to sell GGP when I should have done. Not to mention my recent losses on OMI. But "hope springs eternal in the human breast" (Pope); and I am confident that Thor will restore my shattered fortunes.

Best wishes.

Hi, gkb @15.16

Very clever.

Best wishes.

Hi, Ezlee@15.11

I'm with you on both points; particularly the second. These explorer companies live on the news flow; if there is no news, they wither. I don't blame Brad for the mess in Peru; but if there are months with no drilling results, the share price will fall. Once we start getting results, people will start jumping back in.

Best wishes.

Hi, Topdog@13.06

The short answer to your first question is, not much (they are often misleading, but that's part of the rough and tumble of daily life); and to your second, absolutely yes. I remember piling my entire capital into GGP on the basis of a casual remark by Applegarth. And have I regretted it? Not in the least.

Hi, Broad@13.45

Take it easy on Mr Positive. He's on our side (if you, like myself, are a shareholder). He's good at what he does, and his name tells us what he does. Also, he was right about OMI in December last year, when it was at 17p before rising to 38p (though now about 15p).

Best wishes.

Hi, Dr

If an extra rig has been added to the five we already know about, surely Brad should announce it immediately, in order to cheer us up, and stabilise the share price.

Hi, sharetrader @8.15

I've been following the news from Peru (the covid crisis and the election), and agree with you. I think it's quite likely we'll still be waiting in August, September or October.

On the politics, the new president (yet to be confirmed) is Pedro Castillo, a Jeremy Corbyn figure, who has said he intends to nationalise all the mines. So we should count ourselves lucky to be in Colombia, not Peru. But there will be a presidential election in Colombia next May; and the present incumbent, Ivan Duque (who has business-friendly policies), is ineligible for a second term. So we can add that to our list of worries.

Best wishes.

Hi, Silver @13.12

"Struggling to make any headway." If you compare it to OMI or GGP, I'm happy for the struggle to continue.

Hi, Bruce @14.34

The GP's may need patients, but I don't think we do.