TKM General Discussion, page-41

Further to John's post, appreciate the honesty Galaxy. I started following you for that very reason and evidently for your knowledge/insights within the resource space but integrity comes first with me. People may say holders would have found out eventually due to the composition of the top 20 holders changing but that would only be known knowledge when it is next publicly available. For instance, you aren't obligated to disclose your change in holding here on HC so kudos to you for doing so.

It is certainly a difficult proposition all investors are faced with in regards to the opportunity cost of holding an investment i.e. should one shift capital from A to B as they believe B holds the greater short term investment returns than A. The amazing part about investing is you only know whether you were right or wrong with the benefit of hindsight. We all only have access to a certain amount of capital as well, which makes things interesting and complicated. Everyone also has different views regarding holding XYZ amount of stocks (what is appropriate for one individual may not be appropriate for another). I personally believe in having a highly concentrated portfolio to maximise returns circa 5 to 10 stocks at any one point in time but that is also dangerous for some and not recommended unless you know what you are doing (There are too many companies out there so once I find the right one that ticks all the boxes - management with integrity and know how, location and price then I build a position. I'll only sell my stake when the price far exceeds what I believe the company to be worth or the fundamentals change or my view on management was wrong. Typically, your first ideas are your best ideas and thus why I build large stakes in a small amount of companies.

I have also contemplated topping up on the stock you are referring to Galaxy but I am yet to buy anymore since my first post on the forum where I disclosed I bought in. Regardless, I think both companies have enormous potential in the next 2 years and am happy to hold them both. I have more invested in TKM at this stage but that may change depending on results and short term price fluctuations. To be honest, I have been trying to take advantage of TKM more recently as it has been a lot more volatile which to me is an opportunity and partly because I bought into the other company at a stellar price in my opinion. The price discrepancy between cap raise and current price is too enticing for me. We still have the same prospects, same management and more cash but I don't have to pay as much for it as investors did a few months back. All the best, CP.