Good article in the Australian today...in short, suggests that this commodities boom is far from over...in fact, personally, I see this as stage I. It amuses me how these journos can one day write about the super-cycle of commodities, and then the next day, it's all over. They are monkeys.
In some ways the exercise of the options was unfortunate timing. We have laid out good money for the right reasons, only to be bolloxed by the May sell-off/correction/routing (whatever you like to call it).
To me, the fundamentals have not changed at all. Gold is going higher, copper is not going too far south (probably north again), and uranium is still as hot as ever.......so, to me, if BTV was a buy at 7.5c, it is a rip-roaring half price bonanza at these levels.
I suspect one of the issues for we BTV'ites is that we have laid out the funds for the option exercise, and now it is difficult to find further funds to double up...that certainly is my problem. I would be buying like there was no tomorrow otherwise.
That means probably that new money will need to enter the fray, in order that BTV regains its upward momentum. So, hopefully Managment is working on this...expanding the share regsiter. I am actually surprised that Phoenix Gold Fund would not be interested at these prices....perhaps they have committed what they wanted to, in which case, they are not the only Fund with dollars looking for a home.
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