I agree entirely. Marat, you need to look at this stock in the context that this has not been a great week on the stock market in general. A 30-40% drop in a speculative stock that's risen over 800% in 3 months is not a huge sell off for a speccy in my opinion. I see more long term value in averaging back in speccys rather than crystallising your losses - I've made good money that way. The good thing about speculative mining stocks is that they tend not to go under i.e. they won't get wound up because they generally have little or no debt, because banks are reluctant to lend to them for obvious reasons. So instead of getting wound up they often just languish for a long time, like PDY/GPN did for the last couple of years.
Remember, you only truly lose money when you sell at a loss. In all likelihood you'll get all your money back in time if you average back. It just means having a little bit of patience. My advice is that if you don't desperately need to sell speccy mining stocks at a loss, then don't. Unless of course you're sure they have no future. Don't lose sight of the big picture. The railway, the neighbours, and good drill results, and the fact that it's still early days. I'll continue to hold.
PDY Price at posting:
3.1¢ Sentiment: None Disclosure: Held
