Member Info for Impecunious2

Hi, Rebs and Wayne,

I'm with you on this. If one looks at the volume, it's quite clear that there's no selling pressure at all; everyone who is going to sell has already done so. Unfortunately, there's no buying pressure either; but that will change, because the fundamentals are good. I don't know of any other exploration company with this market cap, which has its drilling programme funded by others, an excellent set of previous results, and sufficient cash to cover its costs for this calendar year. And this is before I start praising the CEO, who may not be great at PR; but knows his stuff in geology, and has the great virtue of honesty (which is seldom found in the seedy underworld of AIM).

Hi, Jerry @18.29.

For about a decade, I only had one investment, and that was GGP. I now have two, GGP and OMI, and congratulate myself on having a balanced portfolio.

Hi, Monty.

Thanks for this post, which I much enjoyed reading. Of course, I wish to go back to the 1970's, for then I would be young again. But my present understanding (based on watching numerous Kitco interviews) is that gold is a hedge not against inflation as such, but against negative real interest rates. These existed in the 1970's, and exist again, now. One has also to consider that many central banks are increasing their gold stocks, because they don't trust the dollar, and the transition to the renminbi as a reserve currency may be problematic (unless the renminbi itself is backed by gold, which may be the plan). I defer to the superior knowledge of Speedy and others; but anticipate a steady rise in POG back up to $2000 and beyond.

Thanks for the reply, Sotolo. It's always good to hear from you.

Hi, thelearner @1716.

I'm sorry to learn from para 2 that Bamps is being exported. I think we should keep him here myself.

Hi, Sotolo and AG,

The problem is stagnation. No-one's interested; the value of trades today is c. £40k, which (let's face it) these days is nothing. I don't think the price will fall further (unless there's a general market crash); but it may carry on drifting sideways for many weeks (until the lab in Peru can overcome its backlog of samples).

I notice that the two of you take the word "awful" in different senses. Sotolo has gone for the more modern sense ("awful" means "very bad"), and AG for the older one ("awful" means "inspiring awe or wonder"). I'm an avid reader of early dictionaries myself; and therefore go with AG. But that may be because I now have more than a million shares, and "hope springs eternal in the human breast" (Pope).

Best wishes to both.

Hi, Atrades @16.50.

I agree that boasting is an odious habit (though I've not been following Mercedes' posts recently); but sometimes boast about my losses, which I consider more excusable, for it's not such an affront to anyone else's ego.

More seriously, Tymers is right in his post of 17.17.

Hi, Timber.

I remember the days when Callum was CEO; the share price fell continuously (partly because gold was in a bear market). And he gave no interviews on Youtube or anywhere else. But he's a good geologist, and that's what matters. It can't have been easy for him to be demoted, by the arrival of Gervaise. But he's been rewarded financially, and (as you say) in 2020 he did well for us.

I had some difficulty buying this afternoon, and had to divide an order of £19k into two parts (unlike Friday, when there was no problem).

Hi, Rebs.

I'm not sure you're right about this. The wording is very ambiguous: "Company remains subject to delayed assay results, with over 2000 samples currently in the laboratory awaiting assay." I took it to mean that there were 2000 samples from many companies (not from OMI alone) waiting to be analysed; which was therefore causing a delay in the analysis of those belonging to OMI.

I will email the company for clarification on this point.

Yes, it looks like we're off the bottom. There comes a point, where everyone who wishes to sell has done so. And the gold price is in our favour, too. The next thing that should happen, is for the volume to pick up; then we know we've made it through to the recovery.

Hi, Tymers @18.16.

I hope you're right on this one, particularly the last sentence. And thank you Bully and Daveri for your thoughts on this.

Best wishes.

Hi, Sliotar @11.34.

I must confess I share your anxiety about this. Shaun Day is an "M&A" man, and may wish to do a fund raise, in order to acquire something else; which in the long term, may make sense; but in the short term will knock 20% off the share price.

Hi, Ag

I'm with you on this. Also, at this price level, after such a fall, praise of the company and its assets doesn't count as ramping; that only happens after a rise of one or two hundred per cent, when novices get sucked in before a correction, and then regret it later.

This is bad news; I'm really upset it's rising. I was planning on buying some more, to bring myself over the one million level. But instead I shall have to suffer the misery of being in profit.

Best wishes to all shareholders.

Hi, Bottle @15.17.

I'm with you on this. Nothing is less reliable than the supposed buy and sell figures.

Hi, Jerry @ 11.57.

Yes, it's a very good joke. Enrico will have to watch out; there's fierce competition here.

Here's an interview with Tom Palmer, CEO of Newmont.

I think he's very good, speaking in detail about the company, without notes, at the right pace and in the right tone. He says among other things that he likes mines which produce gold and other metals (he mentions copper and zinc). On the gold price itself, he's neutral, saying it will probably end the year about where it is now. I'm more bullish myself, under the influence of Lobo Tiggre, whose views may also be found on Kitco (a website which I highly recommend).

https://www.kitco.com/news/video/show/Market-Analysis/3352/2021-04-29/Well-have-some-very-nice-exposure-to-copper---Newmont-CEO#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DMarket-Analysis

I had the pleasure today of watching an interview with Tom Palmer, CEO of Newmont. He's in the same league as Sandeep, at Newcrest. They're both very impressive; they know their stuff, and don't need to look at notes to give a coherent overview of their company and its prospects. There's something reassuring about this; it means the selection process for CEO's (among the larger companies) must be working better than that for politicians (which sometimes works, and sometimes doesn't).

Palmer and Biswas both forecast the gold price to remain as it is or slightly higher over the next twelve months; I'm more bullish myself, under the influence of Lobo Tiggre (also on Kitco), whom I greatly respect.

https://www.kitco.com/news/video/show/Market-Analysis/3352/2021-04-29/Well-have-some-very-nice-exposure-to-copper---Newmont-CEO#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DMarket-Analysis

Hi, Hornblower @17.18.

I like the last sentence, it made me laugh a lot. As it happens, I'm happy with Boris Johnson as prime minister; but think Keir Starmer would be better suited to the job. Or Rishi Sunak. They are more serious characters, and "the case is serious," as Mozart once said (or da Ponte, who wrote the libretto).

Best wishes.