Member Info for Phoebus

So Gervais looks like he'll be available in three months time. Better pull those socks up Brad and polish your sandals.

'...the downbeat drilling news...' [tears of laughter]

Great post Snaffleman. I've read those exact same words before under the dictionary definition for w_nker.

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Surely the company and its brokers should be doing all they can to get the SP as high as possible and do any future fundraising at significantly higher levels. The dream oil exploration narrative is unfolding right before their very eyes so they have the perfect opportunity to do so.

Agreed Herts. SP is basically unchanged since latest 2.5km step-out success. Given the scale of this discovery I cannot comprehend the astonishing lack of SP increase here. I've seen companies targeting a similar volume offshore that have reached several times RBD's current market cap BEFORE drilling has even started. Current market cap is a joke. Should be multiples higher already. GLA

And I'm suggesting that even if there was no catalyst pending you would still expect a SP to bounce strongly after a 70% retrace. In OMI's case I expect the rally to occur BEFORE assay results as market participants take positions ahead of news, either prior to drilling update or between that and assay results. The stronger the retrace the stronger the bounce.

OilMonkey, when GGP started drilling Havieron on 2018-04-18 the SP was 0.56p. When they reported their first results only 10 weeks later on 2018-06-25 the SP hit 1.59p and a week later reached 2.25p. That's a 300% gain in only 11 weeks. Definitely not what I would call FA. Gold price was also much lower then.

Likewise, would you expect the SP to drop nearly 70% and for the SP not to bounce at all especially with drilling now underway, the first in a long time and the first since two majors came on board? Definitely not. You would expect a very significant bounce followed by a period of consolidation as the SP found a new level. The SP action here is rather odd and is probably more to do with the relative illiquidity of the stock and a function of market makers making a market by selling lots of shares they don't have on the way up and then closing out their positions when the SP drifts back as people get bored and or panic out as the SP drifts. If you look at OMI's historical chart this process can be seen quite clearly with huge rapid up moves followed by slow grinding retraces lower. The retraces complete with another super fast charge higher. We are building up to another huge rally at the moment, but we just don't know exactly when it will start. The fact we have only dropped about 1p in the last 3 weeks and are very close to the placement price is a very good sign. What we do know is that once the next move starts it will again be very hard to buy. GLA

now below UFO and only just above PXC. Looks too low.

Surely OMI also has to be on that list too Petrodollar. JV with Newmont and Agnico, Newmont has a near 20% stake in OMI shares, maiden drilling since JV just started, already 25km+ drilling done with superb grades, OMI on free carry for everything, plenty of cash in the bank.

And the gold price was a lot lower then too.

Buying WSBN at this price is like buying GGP at 0.46p and the last time the GGP SP was that low was before it acquired the Havieron project! Super cheap at these levels.

SP will go below 2p if it's a duster though. Can't believe the tsunami of fundraising here. Killing all pre drill SP positivity again and again and again and again ...

Whilst it's always good to have learned sticklers posting on these boards, in my experience it's often those that are convinced by their own superior industrial understanding and length of ownership that are the most clueless as to how the markets work and how to actually make money from investing in them.

Just a few weeks ago the stubborn regulars on the Anglesea Mining board rounded on me for having the temerity to post anything remotely positive about their coveted fiefdom and proceeded to inform me as to how many decades they'd been bag holders and not to disagree with them on how cra_p their company was as they knew better. A few weeks later, and with no actual news of substance AYM soared 400% whilst I remained banned from all branches of Spar.

Whilst dazzled by the brilliance of their own spreadsheets the market does its own thing. Have a relaxing weekend all.

Wouln't be surprised if Brexit negotiations are all for show and Bozza will just fold as planned.

It reads as if it is BKY specific to me.

GGP had zero ounces of resources until this week. Still hit £1.3B market cap. Stop looking in the rear view mirror.

Guess that arrives Monday morning or after the close today. Expect mark up on open.

I guess they were busy consulting ayahuasca shaman to help them decide on whether or not to invest in OMI's project. Shouldn't think they bothered with any proper geological research.