Member Info for Impecunious2

Hi, everyone.

This spread is much exaggerated. I have just bought a few more at 0.91p.

Hi, Tweenie @19.32

Thanks for this. I didn't know we were fully funded for this year; but am pleased that South Australia has chipped in A$300,000 for the development of Alford East.

Hi, User @19.19

I have much enjoyed reading your past posts.

Best wishes.

Hi, TMT @18.36

I don't want to be a bore, but there's a problem about choice as well. All our supposed choices are constrained by circumstance; and perhaps Godwin was right, when he said, we act not from free-will, but from necessity ("An Enquiry Concerning Political Justice," 1793).

Best wishes.

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

The "r" is not some secret code. It's a typing error.

Hi, Mush @17.54.

I'm sorry to disagree with you, but I like cloudy weather. It's very English. But you're right about the share price; this is not quite what we expected in January.

Best wishes.r

Hi, TMT.

There is a problem about what one means by manipulation. Market makers of course want to increase volume, and therefore will lower the price to frighten people into selling, or raise it to entice them into buying (through fear of missing out). But this is different from what Hydro was suggesting earlier this year; that a large buyer can force down the price by short-selling, in order to buy at a discount. And then there is the use of rumours, to push the price up or down (my favourite example is from March last year, when someone said that Gervaise was in London, meeting with institutional investors; in fact, he was fast asleep in Sydney). But, as has already been said, in the medium term, it really doesn't matter. The fundamentals of the company (profit, revenue etc.) will always win out.

The risk here is fairly clear; the company has a history of frequent fund raises, which dilute the holding of each of us. And I shall not forget the scathing remarks of Michael McNeilly, CEO of Metal Tiger, in October 2019: "We see Thor management as having failed to deliver on their targets, and believe that it is essential that cost-cutting measures are undertaken urgently in order to reduce Thor's ongoing administrative costs" (which I take to mean, the directors are paying themselves too much money). But on the positive side, we do have a new CEO (and as far as I am aware, she is the only female CEO in the mining exploration sector), who seems to know what she is doing; and we do have some good assets. Buy now, and you may regret it; buy now, and you may be rich in five years' time.

https://www.londonstockexchange.com/news-article/MTR/participation-in-thor-mining-placing/14275088

Hi, Copperman @15.43.

You're in good company on this one, for Gareth Soloway, the master trader, remains short on Tesla.

https://www.kitco.com/news/video/show/Market-Analysis/3397/2021-05-19/Bitcoin-price-collapses-to-$30k-is-the-crypto-party-over#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DMarket-Analysis

So frustrating, I was trying to put in £30k. Eventually, after immense labour, I managed to put in £20k, and I was so annoyed by the whole experience, that I put the other £10k into Thor. This reminds me of a bawdy anecdote by Henry Fielding in "Joseph Andrews," which I won't relate now, as you can find it for yourselves (vol. 1, ch.18, "The history of Betty, the chambermaid").

Hi, everyone.

I bought some Thor today, and the spread turned out to be 3.2%, rather than the alarming 5% or 10% indicated on this website. But there is a problem with online market size; I tried £20k, and got rejected; then £15 ditto; then £10, accepted at 0.98.

Hi, Wasred

Thanks for the Mark Twain quote, which was a new one for me. I'm all in favour of gathering quotations, it's a way of keeping in touch with the past and learning from our ancestors (some of whom were very perceptive on matters of behaviour). Technology changes, but human nature doesn't.

I note that gold has shown its safe haven status today. Equities generally are down, the large miners (Rio, BHP, Anto etc) are down; copper is down; bitcoin is down; but gold is up, and GGP and OMI are both slightly up.

If there's a correction, with risk-off sentiment, we'll do well. If there's a crash, with real fear, as in 2008, we'll fall with everything else; but by less than those companies producing the industrial metals. And (of course) we will recover.

The price of gold (now at $1887) and the collapse of Bitcoin are definitely helping us. And (let's face it) we deserve a bit of luck. Most of us will either be carrying onscreen losses, or greatly reduced profits (and many regrets), since the high point in February.

Hi, Paul @13.49.

It's nice to hear my remark of yesterday being repeated. When the time does come to take profits, I think few of us will mention it on this billboard, for fear of being lynched.

Yet selling after a sharp rise is nothing to be ashamed of; for it allows one to support the share price when it falls. Which one cannot otherwise do, unless one has a fresh supply of capital (which most of us don't).

Hi, Jet.

Very interesting first paragraph.

And I like the proverb in para 2. You don't often hear proverbs now; but they contain a lot of truth. The only problem is, sometimes they contradict each other. So one has to decide which one applies to the present moment. Is it "act in haste, repent at leisure," or "a stitch in time saves nine?"

Actually, I think people have been selling GGP not in haste, nor even from boredom (though there's an element of that); but simply to diversify their portfolio. I asked myself a simple question, "do I really wish to have 100% of my capital in GGP?" and the answer came back, "No." Obviously, I should have taken this decision in December or January, rather than April and May. But to err is human, and I don't claim to be a second George Soros.

It's good to see the volume picking up at last. £134k is much better than the meagre £40k we had a few days ago.

I was offered 17.5 to sell 50,000 on Eqi a minute ago. (I didn't take it, by the way.)

Hi, Ageos.

Welcome back. I remember your posts from the autumn. I'm a humanities man myself, but it's nice to know that there's someone with an understanding of the relevant subject.

Best wishes.

Hi, Scipio.

As Chairman Mao used to say, "the longest journey starts with a single step."