Any expected news?, page-189

LOL....I think we should leave that last request alone.

I subscribe heavily to what W2 said the other day on this very thread. He quoted Benjamin Graham, who in his book "the Intelligent Investor" said that in the short term the market is a voting machine, but in the long term, it is a weighing machine. Don't believe all that crud about the market being perfect and prices reflecting true value. If that were the case Buffett would not be a household name.

These days I also avoid speculative stocks. I actually do not see PLS as speculative anymore. Or should I say hugely speculative. I think every stock is speculative, as is every investment; it is just a question of degree.

My research suggests we are way under-valued based on the likely value of Pilgangoora. This is just not my opinion. Reference can be made to the Beer& Co expert reports. In particular I point you to their valuation based on even a 1.7% grade and quite a modest resource. I also assess that bringing that value up (in terms of its relation to PLS share price) is not too difficult based on a host of measures, eg geography, geology, near surface resource, the long exploration expertise of management, the demand for lithium/tantalum, corporate relationships etc etc.

I think it is more a question of patience than speculation now.

A supposedly erudite person made a comment to me the other day, that my investment in PLS was not exactly an investment in BHP. I suggested he go and have a look at the price chart for BHP the last 10 years. I have not heard back from him.

Roger Montgomery's piece in the Weekend Australian on TLS I thought was spot on. My weighing machine says that TLS is now fully valued, and one wonders whether it will be able to maintain a price to dividend ratio of 22 when it has no net growth over the past 10 years. I am very grateful for the last 12 month's run in the share price largely off the deal they did with the Ruddster, but hard yards from here.

There is (at least) 1 stock in the ASX200 (presumably less speculative than the ASX3000) which I think has the potential for 5 times share price in the next three years, & is making about $250m net cashflow right now. I reckon you should speculate on that one Golfzoner.