After buying in for an average of around 21.5c a few months ago, it has been difficult not taking profits and running, but I kept telling myself not to sell out before the rally was over. At $1.20 (on the way up) to $1.38 or so I was feeling very tempted to take the money and run, but figured I'd sit tight until the rally stopped. When we pulled back over the last couple of days I figured it was likely a good time to sell... but I wanted to wait for the reserves upgrade and news of this well. When I saw this morning's announcement I was very pleased about hanging on!
I think MAD is a great company and I'm very positive about it all. I watch the discussion here closely and often think there's a lot of empty ramping (although a lot of the optimism and positive discussion is solid and worthwhile), but I think we have a lot to be excited about at the moment.
Some companies consistently put out announcements filled with big promises which never amount to anything, but MAD tends to be understated or at least realistic, which to me makes an announcement like this morning's carry a lot of weight.
Still no solid figures, but I don't think they'd be so positive without good reason. It looks great! It's not surprising the market isn't moving too much without solid numbers, but I don't believe they would risk their credibility by saying what they have if the figures weren't going to be impressive. This says to me that until the exact figures are released, we're sitting on a good buying opportunity.
Switching sentiment from hold to buy.
At least on paper, buying MAD is now the second most profitable move of my life (AUT being first) and might turn out to be #1.
DYOR and all that.
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