v. large v. rich gold with political risk, page-27

Hi Mike. Yes, still holding core amount as I'm a LT investor, although I did trim off a few for the first time in a rebalance of my portfolio recently. I try to find stocks with good prospects and management that can run all the way. I guess it comes down to doing the legwork, keeping your eyes and ears open and having a fair bit of luck that things work to plan as well. ORE is another good example having gone from a promising speccy to now being (IMO) substantially derisked and poised to potentially become a major player in the new energy economy.

Holding for the LT can be difficult with smaller cap stocks as it would appear many punters trade in and out several times as they progress (hopefully) towards mid tier - hence there's lots of volatilty even if things are going well. Again, witness ORE running to $3.00 but recently pushing back to as low as $1.50 or so despite broker valuations and its apparent strategic potential. Reading a lot of HC posters comments (in general apparently more representative of ST trading?) one could argue that if everyone has their trigger finger so delicately poised to take profits it becomes self-fulfilling that even stocks on a successful path will fall back time and again, offering the same punters a succession of re-entry points. This may be right if one can successfully navigate this choppy course. OTOH there's less chance of missing out if you simply stay in a quality stock and there's also an argument that you don't repeatedly dilute your potential exposure by cashing in and paying tax (whether as trader's income or investor's CGT). There was a good appraisal of this last year on the EXT thread which would appear to (unusually) have a greater representation of holders than traders.

I originally got in early in 2009 after reading a number of reports (but not quite "day 1" - well done minemajor). If I remember correctly, this was not long after Paul Kitto had come to the company, had a look at the existing tenements but then having been made aware of this promising new area to the south, convinced management to move quickly to lock it up. This early mover advantage in Burkina Faso appears to be paying off. While even the now divested northern tenements are showing promise in other hands, AMX would appear to have tied up something even more exciting over this very large strike area. Time will tell on this. It's also suggestive IMO by the relative absence of chatter on this forum and the apparent trading patterns that there is a more institutional component to the suppport. As you've previously posted, getting into West African goldies early has been a good overall move (for me PRU, AMX and AZM all doing nicely) and takeover prospects now apparently causing even more interest.

I purchased my AMX core holding @ 7.5 cents around Feb 2009. But I'm still grumpy that I missed the earlier rights issue at 6 cents and paid 25% too much. What does that say about my mindset? LOL!