everything changed, page-5

Hi loulouhaha, it has been a while since we chatted. Back in late 2010 I had a bag load of these. I too was impressed with the story and was sitting on a massive paper profit at the time Dickson took profit. Fortunately years of pain in the market has taught me only to buy when there is an absolute bargain to be had...so I still walked away with a handy profit. The reasons I sold were :

1.Dickson selling was a momentum killer at least short term
2.Predictions at that time were for an extreme wet season that would make any field work impossible until May
3.May is traditionally soft month which would possibly create a buying op
4.There was sure to be some dilution between me selling and drilling commencing
5.The market has the attention span of a gnat and the points above would contribute to the stock drifting lower.

My plan was to reenter around now. I did buy a very small amount around the time of the japan earthquake and subsequently traded out again. I have bought a fair few more sub 4c but not to the same level as last year. For me it is now about risk management.

Mulholland did not sell a huge percentage of his stock but Dickson did. However I am prepared to accept the possibility that because the share price suffered significantly during the GFC it may be that Dickson had his back to the wall financially as a result. Perhaps selling that spike to 12.5c has saved his home. Perhaps his wife does not share his confidence in the project and as good husbands we must consider the views of our better halves. We have no way of really knowing but we do know that Teck Resources have committed to RXL and we can be sure that they know more than us.

Conditions are rarely perfect at the spec end of the market and hence the great risk/reward equation. I hold a handy amount of RXL now that is reflective of my confidence at this time. Hopefully that confidence and hence my holding may grow as the drilling plan starts to unfold.