large pre-open trade, page-9

lol - sorry to say I am a much, much smaller investor than that. Most of you guys (& gals ;0)) seem to have many more EXT shares than I do.

I will admit that I sold around 20% of my EXT holding @ around A$3.50 but that would barely show up as a flicker on the reported trades. [I do hope Harlee isn't too cross with me :0)]. The reason was just that, as I've mentioned, I don't run a concentrated portfolio (just can't tolerate that degree of risk) and the value of my Extract holding was becoming scarily large, for me, relative to the rest of my porty. I have meaningful positions in about 25 stocks.

That sale has now recouped most of the cost of my original investment, so I can feel more relaxed about the 80% I've got left. I've benefitted from a "double-whammy" in that not only has EXT's sp come along rather nicely since last October but the A$ has also gained against the GB£, so that's added a bit of extra juice. :0)

Even though that remaining 80% is still a pretty chunky part of my porty, I am prepared to take a long term view and agree with l e's thoughts that this could well have a lot further to go. We need some drilling results, though, to confirm that all is on-track.

Most of my Extract holding is in my SIPP - the UK equalivalent of your "super". There's no tax on buying & selling, only on what is drawn from the fund in the end, so I don't have to worry about that.

And yes, as Harls was wondering, I do make my living from running my portfolio of investments & from a particular type of arbitrage trading (that's nothing to do with Extract).

Cheers,

Mark