time for comparisons, page-14

Hi hone,

Good post and hopefully see you onboard soon. Still a bit of time to establish a LT position yet.

My two biggest holdings are PLV and WPG. Many similarities in terms of near-term production, DSO + magnetite resource, strong corporate backing and both trading well below their risked NPV (using conservative io prices).

Personally, I prefer to invest in companies with quality management who hold a KNOWN resource but are trading well below NPV. Nine times out of ten, if mgmt are experienced and have integrity, the operational/legal risks will usually be resolved and the company will lose its risk discount and be re-rated accordingly.

Funny you mention FMS. I remember holding them a few years ago when they had nada. I think i made about 50% from 6->9c but didn't see them as going anywhere. Obviously they've lifted their game but must have a squillion shares on issue to have that market cap at 20c...