Then you can pat yourself on the back and justify your initial buy price properly!!!"
Good point Vendor (sort of); You could pat yourself on the back with your initial purchase but wouldn't you also have to kick yourself for not buying all of them at the lower price? If you are good enough to pick the best entry point why average up and cost yourself money?
Reality is we can never be sure what’s going to happen which is why we sometimes average up or down rather than buying all at once. I did want to buy many more after my initial "toe in the water" purchases at 5.2 through 4.6. My buy price is now 4.5c average. I actually do prefer 4.5c average rather than 5.7c average. Call me crazy but I prefer paying less than more! That it dropped after I started buying suited me perfectly. I don't consider my first batches a mistake because I liked the price then based on the resource and wanted to get at least some exposure. There was no way I could have been sure I would get them significantly lower. Who would have expected so many larger cap gold stocks to get crunched 10-30% over a short period with just a 3% drop in the price of gold from 1650 to 1600? Especially after most had already corrected so much beforehand to more reasonable valuations. Even crazier, the AUD gold price since mid March is actually up.
"PS: good on ya Chuk, your posts are influencing people to buy" You flatter me too much. I doubt too many would buy before doing their own research. I post my honest and I think conservative estimates not to influence people to buy but to hopefully get other peoples feedback on their thoughts on my numbers. The scoping study this month will tell people if my numbers were reasonable or not. I am confident I will see a scoping study NPV justifying a sp of 6-8c with little or no exploration upside factored in. I’m leaning towards the higher end of that range. We won't have long to wait to find out. I would be interested to know if you have any issues with my numbers Vendor.
ABU Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
