re: Ann: Requisition for Shareholders Meeting... As an ex-Hardman shareholder, I well remember how KEY was touted as the next Hardman. The IPO was such a wonderful thing.
For some reason I did not take up the IPO, but became a small KEY shareholder around the time the Tanzanian gas find was announced. My then tip sheet, Stockanalysis, said it was a huge buy - so I bought only a very few as my portfolio in 2008 was already full of speccies.
I tripled my small holding by buying more at lower prices. At one stage last year my KEY holding was in the green and I said to myself "Loki, you are an intelligent long term investor. Just buy under-priced companies with real underlying assets and they will come good. KEY has sound management and knows what it is doing by getting a revenue generating business in the UK that will fund its admin costs and give them credibility as a small producer."
Well, since then it has been downhill all the way - with some small uptrends. I have visited the KEY thread and supped from the wisdom of knowledgeable Hotcopperites.
Meanwhile the downward price trend became progressively worse. So in early July 2010 I just sold out thinking to myself why not accept that I was just plain stupid. I failed to follow the "trend is your friend until the bend" approach and must pay my full dues, which in my case was a 66% loss, $10,000.
Lesson learnt, until the next sure-fire deal.
loki (former KEY bagholder)
PS: We should at all times have a copy of my boyhood hero Clark Kent's "25 stages of hotocopper fantasy stock" besides our computer screens.
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