Hi JJ,I think those NSR (net smelter returns) are only good when they start mining. Have any of these actually started? I had one company that had a few of these in place, they lapsed and they never collected a cent. If they were all mining then, great.
I tend to only comment on my few spec mining stocks. I dumped them all about a month ago and piled into CHN. Small spec stocks with good ground, but without key stone investors rarely make it, unless they are lucky. Catchy promising stories, rarely ever come true. I think what you have to do, is look for the early emergence of a story of a great new find. Pile in early and I think you have an 80% chance of making good money. I think that is part of your DNA too, JJ.
I only own two other mining stocks now, S32 and GOR. I once owned around 600,000 of GOR and when the they dropped in early 2013, I sold out at an average of 5 cents. I brought back in. I think, the 2013 drop was a shake out by big players, who had already been made aware of the Gruyere find . Soon after the drop, they announced the discovery of Gruyere. I think big players forced small players like me to panic and sell. Hard lesson learnt, there JJ.
I have owned TOL and the Japanese takeover, brought CSR @1.00 and sold $4.00. I still own QUB, INA, ORG (hurting due to the oil price), NEA, TLS, ANZ and WPL.
Did I ever tell you about Newstat. It went under as a result of its accounts being qualified and Exim then pulled a $600m loan on a satelite and we went into receivership. One of the shonky directors got a fine this year and can't be a company director, what a shame. I lost $4,000.00 and I know of another who had $400k of super money in it. A break and enter guy can get 3 years inside, white collar crooks get a slap on the wrist. Asic is a poor excuse for a regulator. These crooks cause so much more harm in the community, many of these crimes result in suicide. It bring up the old saying never place all your eggs in one basket. Gee a few too many eggs are in CHN's basket now.
Sorry for the ramble everyone, stay calm, I think this one is a winner.
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Hi JJ,I think those NSR (net smelter returns) are only good when...
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