bru vs nse geology, page-21

anatol, take a nap and calm down. :)

You are talking about Canning Basin and I am talking about investments in Canning Basin. Each point has value that does not diminish the other. There is no collision. The points coordinate. If you don't appreciate it sorry. Others here apparently did appreciate the point I made. You aren't the only person in the world.

And you missed my point entirely on the investment. One way to be successful in investing is to find situations where the downside is defined and small, and the upside is large even if it is remote. Said another way, you try to define the downside and take substantial upside for free. That is exactly the situation I see developing here. I'm positive on NSE as an investment here, not negative, but only within a specific time window. If you can buy NSE for significantly under cash backing, with a year of exploration expenses already removed from the market capitalization, you have minimal downside from them spending down their cash balance during the year. But you simultaneously get a free ride on a year of potential exploration success and surprise.

Such an investment is not risk free forever. This is not a buy and hold forever. If the year goes by and the exploration drags on without success, at some point you are faced with another dilutive round and the dynamics of risk become much less favorable to the investor. You have to at least be aware of the fact that NSE (and most explorers) constantly grow their enterprise value, but typically their market cap per share goes sideways or grows at a much slower pace because of dilution.

When you say "you are making a lot of meaningles (sic) posts by asking questions without making any contrubiton (sic)...." If all you want to talk about all day is geology, I agree. You bring superb geological energy and facts and thanks for that. But this is an investment not a geology class. And forgive me but you are wrong that the questions I ask are meaningless.

1) Asking for a breakdown of exploration expenses is not meaningless. It is fundamental to understanding the investment and the cash burn rate of the company.

2) Understanding the course of the capital structure over time is not meaningless. Those who don't understand the past are doomed to repeat it. Knowing when to be in and when to be out of an explorer is a key part of making money in the investment.

I realize you are probably a geologist and geology is more fun than finance. But you are wrong to assume that your interest and focus is the same as everyone else's. I'm raising fair questions and points, and I'm trying to not drag it out.