Member Info for StarBright

I am always interested to consider contrarian points of view.

The Ariquemes tin project I view as an unwelcome development for shareholders, although I can 100% see the logic from the (self-interested) point of view of OMI’s management team, who I presume have one eye on a post-JV world. However, I think it is too great a stretch to read it as indicating that the Anza project might be ended prematurely.

The JV partners are massive businesses, with a combined market cap of $60bn and free cashflow approaching $5bn. I met with an independent director of one of them last summer. He hadn’t even heard of Anza or Orosur, although he was aware of ongoing exploration activity in Colombia. I only say this only to point out how small we are to them. I’m not sure whether this a positive (as Seingred points out the $3m cost of explo is tiny for them) or a negative in that this is no big deal for either so may be subject to random decision making.

On balance I’m inclined to believe that the JV partners will want to continue, certainly to the 4 year point where they have 51%. Perhaps the $2m due to OMI in yr 5 will give them some negotiating impetus/leverage? In the meantime I suspect that both will be capitalising their share of the $4m “in the ground” expenditure, so there’s not really any pressure on them to discontinue. In short the Anza project is something of a free option for them.

So while it is good to consider carefully all of the options, I don’t see any reason for the rug to be pulled at this point in the way that you suggest. As a result I am happy to stay invested here and watch for drilling results and subsequent JV developments.

Perhaps to make sure that you can ask the right questions at the right times, and not always be shut down with "This is what the engineers are telling us."..?

Does HL let you enter a limit order? If so, why not try an order at the size/price you are willing to pay and see whether it gets filled? You might well get a better trade than through a quote.

Fair enough.

The point is that there are plenty of trades going through, both buys and sells.

If you can’t even a tiny trade executed via HL, this is telling you something about your chosen platform. It isn’t informative as to the depth of available liquidity in CORA.

There's quite a good explanation of uncrossing trades here:

https://www.shiftingshares.com/what-is-an-uncrossing-trade/

Perhaps the key point is "The uncrossing trade is only important if you are involved in the auction."

It isn't uncommon to see anomalous (ie outside of the spread within which the market traded into the close) UT prices. My experience / observation is that the market generally ignores these when it opens the following day. We'll see what happens this time!

Yes - that's precisely my point! Absent an RNS or similar, I expect trading to open where it was toward the close today ie 15p - 15.5p, as there were both buyers and sellers at that level.

I'm sorry you weren't able to exit your hastily bought position in OMI Masks. 250+ ramptastic posts in a few weeks watching the price fall from 25p to 18p is a lot of wasted time and effort. All there in your post history for everyone to see as well... I still have the holding I bought back in q3 2020.

Do you think there's a chance that Degsy - or whichever of his multi-account ID's he's using this week - will treat us all to 25+ posts a day ramping the living daylights out of CORA? I'm looking forward to it if so. Such a distinctive style..!

I think those shares are already held in treasury, therefore the liability is effectively hedged.

Max111 has doxed himself..!

https://clip.cafe/meet-the-parents-2000/can-ever-really-trust-human-being/

Interesting price action. To play DevAd for a moment though, no company ever released a stunning good news RNS on the second Friday of August... It's the deadest week of all in capital markets, with most desks manned by juniors at best. Not the moment to push your narrative, much less to mark some sort of breakthrough. Traditionally a Jo Moore period...

I'd be happy to be proved wrong!

"Did they need a news excuse to allow the SP to increase without showing them to be manipulating this too much??"

I don't think so. Far better to understand market makers as price takers than price setters. Their interests are served simply by pricing where both buyers and sellers are willing to transact. These are flow desks, with their PnL driven by maximising two-way volume not by elaborate ruses to trick honest punters out of their hard-earned etc etc etc..!

What we have seen today is adequately explained by some highly-engaged PI's being tempted back into the water following the interesting announcement regarding Telfer on top of recent price weakness. We are still -2% from just a week ago.

UT at 13.95p. Expect it to open up +10% tomorrow morning at 15p - 15.5p.

You can say that again... ;>

Whilst you might not get an immediate online quote for a market order sized at 2m, I think a limit order at 17.9p would get filled pretty quickly.

Dummy buys aren't an effective way of testing market depth. In operational terms they typically follow a different routing to/within the RSP's. You can't read much into them as a result. The only reliable way to find out is to commit your capital through a limit order....

That is my interpretation too.

This is just….. good news. Thank you for sharing.

Probably just job title inflation! A “Group Mining Engineer” is more important than a “Mining Engineer”. Perhaps this was important to the new appointee as it shows career progression etc..?

The assay results were (& more importantly are) outstanding! But >£1.2bn Mcap was simply too much expectation baked in. That’s where the overheating was.

“A placing…?”
“Orchestrated and manipulated relentless selling…?”
“a big seller in the background for whatever reason..?.”
“Something is not right somewhere…?”

Not sure we need the conspiracy theories. Many small-cap miners became overheated in H2 2020, a lot of that heat has dissipated through 2021 so far. GGP was one of the most overheated names, so has suffered more than most.

Just the way it is…