Member Info for velma

Hopefully a lot of eyes on this RNS. I couldn't really make sense of what Brad meant by reinvestigating APTA's geological model, but I can definitely understand potential high grade from surface...

The news about the assays doesn't really change my view on El Pantano. It could still be a knock-out; the route to profit is just more precarious. It does make you wonder how much it might cost to ship the assays up to Colombia.

I think Brad's tweet is pretty immaterial. In broad brush strokes, OMI is down today the same way gold is down - I watch the gold price via the Comex futures on Google finance (GCW00), where GCW00/OMI is up for the month (6%/11%), down over 5 days (2%/15%) and down today (0.5%/3.5%). The last RNS was good, but it essentially only noted two good drill results, both quite short in length, next door to an area the market's done with for now.

The VIX has somewhat retreated, but with the war in Iran I imagine there's still a lot of trading going on as investors chase gains. It's true that we haven't had much news since early in the year, and a lot people will be asking if gold is still "the thing". Big news from El Pantano or El Cedro should rocket us straight back to somewhere sensible, if not beyond, likewise a Pepas 2 that's the same size or bigger than Pepas 1. I'm less sure about how APTA's going to go, only because it's been around for so long, and I don't understand the proposed geology enough to know why a revised geological model would transform its profitability etc. But I guess we'll see what comes out.

I read it too quickly - terrified that this is what the board has reduced me to, failing to recognise sarcasm on the internet... It was brilliant, A+.

Reading it again, I don't think Fitzsimm is serious... I owe you an apology, Fitzsimm: the post is beautiful.

I'm almost tempted not to filter the new gremlin because that post is absolute comedy gold.

I don't think Brad's making a serious statement about the number of ounces he expects from Pepas West (hence the "perhaps"). He's just throwing around example numbers to explain his thinking. Still good to hear from him.

I think it would be unlike Brad to extend the drilling run if he thought he was on a hiding to nothing. To me he's saying that they can't afford to stop and think while the camp's in place. Which suggests that when the first campaign finished, there were strong enough indications of what needed to happen next that they did it without a full review of the data. And then there were more indications of something going on at depth.

Honestly, I think Don Durrett misunderstood Brad at Beaver Creek and thought Pepas was a 2m oz project.

Brad certainly sounds happy with life. The new hole won't be cheap either, if it's out of contract for the drilling team and producing 600m to test: suggests that there's a strong business case for it.

It's good to at least see the trade that brought us down so far... Can't believe you'd take that offer if you had a choice, instead of splitting it out. Hopefully that means they won't be back tomorrow.

Difficult to make sense of the price movement here... Every day there seems to be more buys in the basic numbers, then a fairly even split of bigger buys and sells. And yet the price keeps going down. What is the logic?

Https://www.ausimm.com/bulletin/bulletin-articles/gold-concentrate-marketing-101/

Interesting article about the trade of gold concentrate. Grade is king, it seems, otherwise there's a risk of falling foul of import regulations in China, where the main market is. Customers also don't want too much at once, to avoid cash flow issues. Sounds perfect for a small, high-grade resource.

Please go ramp JAN on your own board. GLHF

We are higher than we were throughout November and December, and we were trading above and below this level September-October. No one likes being underwater, but it's been a single month. The idea that there's no near-term upside to this share is just daft.

You're entirely right, Rob. My actual position is that this discussion is all a bit pointless, since we have the PTO coming from professionals, though thanks for sharing the TP doc, Napthaman.

I really thought we were beyond this level of volatility, which is why I think reading this nonsense is winding me up. Very interested to hear people's thoughts on that, and whether we should expect similar swings throughout the year. I am crap at trading and don't want to feel like I have to do it.

LegalWolf, I wish I had your pep. Dr R, I get your enthusiasm for Pepas North, but I don't think it's on the agenda. I think Brad sees 2026 as the year he finds the big 'un, though I wonder if this SP collapse hasn't brought him back down to earth a bit. I do hope the El P results are good. Been reading this place since whenever we were last at 20p in 2021. It's been a fun ride back to profit. Hoping to do up my house with the money. Would very much like the instis to pay for my new carpets, thx.

Start a YouTube channel, then, and leave the rest of us in peace.

GGP, what are you on about? E1 has either read nothing about this company or thinks that the BoD are lying about its projects. Either way, they shouldn't be invested, so what are they doing on a board for investors? I could not give a single damn about their reputation on other boards. Get off your high horse.

Great to hear that the deal's been worked out with the aeromag contractors. It would be good to get a drill to El Cedro before the winter.

Cvajt2, a raise would be very greedy given that they had US$15m in the bank on 26 Jan.

Hopefully the market sees it too, Ezhik, sooner rather than later. DYOR is the rule for a reason...