interesting day, page-6

Goyco you raise some relevant points.

There is no doubt in my mind that the SP will continue to increase. Equally certain is the fact that there will be ups and downs- like every share out there.

But the SP is still at a level that no matter what unlikely event happens bar a complete collapse of the Western Economy, the Sp will recover to at least todays prices.

If the ship carrying the ball mill sank on the way to Australia, the SP would go down but in 12 months time a new one would be bought and the SP would recover.

If nickel prices dropped to low levels, the SP would recover to at least present levels simply because Avebury will be the most cost efficient nickel operation in Australia.

Same with an earthquake, fire, etc etc

Some people are geting impatient because there is no announcement about Saxon. My view is dont expect significant announcements for 3-4 months. While its likely the quarterly result due out this month will have some drilling results, the drill out of Saxon hasnt really started in earnest. The ring road they are building to do the drill out from has not been completed yet, although there are probably rigs on site now.

Early drill results from Saxon may not be spectacular. But that doesnt mean Saxon is no good, it could still be 10X as big as Avebury. The drillout will take time. Im actually expecting mediocre results, it would be a miracle if they hit on the richest part of the orebody straight away.

Just remember that Avebury by itself is as good or better in terms of profit to shareholder as any Jubilee or Sallay Mallay.
Saxon if its significant is a huge bonus.

So the answer to your friends question is still Yes, but its a long term buy as it always was. If they are not perepared to see some volatility in the SP and are going to get scared if the SP drops 15% at some stage they should put their money in the bank and be happy with 6%.