The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Total disregard for shareholders whilst feathering their own nests, it truly beggar's belief. The amount of times Brad has been approached and asked for more frequent news only to use excuse after excuse "covid delays, 3 months is good for an explorer" etc. It's not good enough and as the people who pay the boards salaries we should stand together and demand change.
Has anybody noticed that the last 4 Colombia updates have been exactly 9 weeks apart? For me that looks very much like choice not delay. We also have 2 rigs in operation now yet the 2nd rig wasn't RNS'd, I accept it wouldn't have been a strap yourself in RNS but at the very least it would show that the board are trying their hardest to keep us in the loop.
RPdard notification of the AGM was posted on their website but not RNS'd until one of us spotted and challenged him. Obviously they wanted as few people aware as possible to reduce the number of people that would challenge their increased options.
I've always said this share could be a life changer. Proven area with not 1 but 2 majors calling the shots. I stand by this statement, however, having lived through the pitiful management of the company over the last 12 months would I invest today as a new investor with current management? Sadly my answer would be no.
If Brad didn't break every single promise he's ever made then maybe I would have more faith but imo he needs to go and take the rest of them with him.
Please make sure you use your vote before the deadline. To try to push through these options now with the sp at a 12 month low is beyond insulting, don't sit on your hands and complain if the worst case scenario happens.
Have your say before its too late.
It's a complete and utterly disgrace. I've personally contacted Brad via email on multiple occasions and the amount of effort he puts into his replies is poor at best. I voiced my concerns a few months ago at the lack of PR and the daily sp decline and he managed about 3 sentences in a reply to an email which took me an hour to compose ignoring the vast majority of my concerns. The time to open your mouth and stop this is now, it beggar's belief that they think this is acceptable.
Breaktwister, no reply from IG after I sent completed Proxy form by email with all details they requested so it seems all good. When I emailed them asking how to vote they replied in less than 5 minutes so I think we can safely assume email is okay.
This is the reply I got from IG when I asked for proxy form:
We can vote by proxy on your behalf on receipt of a signed proxy form available from the relevant company website usually in the investor relations section. You will need to specify IG account number, full name, date & location of the AGM, your shareholdings over the ex-date and the voting intentions.
Nice to see today and an almost certain profit if you have the patience to hold for 6-12 months. Agree with you completely Mambamentality, the big boys could have walked after our last 12 months drilling but instead they've taken over the operation. It's about as big a hint as we're going to get. Onwards and upwards.
No exact timescale but it could indeed land any day. Also key that via email Brad has confirmed the majors only have to spend a minimum of £4m, they can in fact spend as much as they want which I expect is almost a certainty when he also made a statement saying "they are in a hurry and money is no object". Still amazed people sell with what we already know. Looking forward to 2022 which I think will be a very big year for Orosur.
Buy what you can when you can and don't pay attention to daily price fluctuations. I know it isn't easy and it does look suspicious considering what we know and the JV we have but it won't hang around down here forever. Patience is key and the best time to buy is when sentiment is low imo. 2022 is likely going to be a significant year for us. Buy and hold until this time next year and I'm confident the return will be worth it.
I agree with DrRemington. A little wait for news offers an extended opportunity to load up. I have no intention of selling any of my holding here for the foreseeable. I can't imagine selling when news could land any day with our next drill plan.
I'm happy either way but do sway towards maybe better if we don't see them. Like you say the majors have made their decision based off of these results so it's rather inconsequential to release to us you could argue. Buritica has a serious issue with illegal mining and it will certainly be something Newmont and Agnico are aware of. And an hour from Medellin or not, we're still definitely in what I would consider a very remote area. Not a reason to be put off buying here as I'm sure plans will be in place to deal with the issue if it did arise. Any top up under 50p for me is cheap with what we know. The majors know what they're doing and are only here for one reason.
In complete agreement with you mamba, only thing I would say is that maybe its best if we curb our expectations towards us getting to see Blegs and regional sampling. Not convinced that the majors will reveal this info now that they have taken control as Colombia has problems with illegal mining. The moment we say sampling suggests rich mineralisation at location x, we may then have issues with removing said illegal miners. That's not to say that I don't see share price here at many multiples of current price by this time next year if as expected our next drill programme is a whopper with rigs in double figures. Time will tell, but if you are in a position to top up at these levels I can't see anything but profit in the not too distant future imo. Important to note also that we did 80% in a day here from a drilling update not that long ago. Remember in Brad's words "they are in a hurry".
From my point of view if you're already invested in both and unsure I would look at both market caps and make a decision from there. GGP £670m vs OMI £25m. Much more scope for growth here imo as we are still only in phase 1. 2 of the worlds top 3 gold producers taking over ground ops with multiple tenements yet to be drilled. Gold on any of these as well as at Apta and the wider market will take note. And don't forget CEO's know they are presenting to their investors and anything short of upbeat and positive can translate into a disaster for the sp.
The longer we go without news just increases the possibility of a significant rerate. I expect once the big boys have dotted the i's and crossed the t's and we get to see this next years drill plan and number of rigs this will rerate hard.
I would back you up on that statement Seingred, nobody is going to buy in today and multibag by Christmas, although anybody who has been here any length of time will know what good news can do. Just imagine the reaction if Agnico matched Newmonts stake in the company seeing as they are sitting on stacks of liquidity. It might not happen, but never say never. They're both similar size companies now and I can't imagine they like being in a scenario where ultimately Newmont can have the final word because they have a stake invested in us. Purely speculation but I can dream!