a history lesson

I bought into QPN this morning. I won't bore you with my reasons why but I do want to share a valuable lesson from my time owning VIL.

Before FP1 was drilled I bought in at 1.6c on the heads and watched with amazement as it hit 9.6c. I bought into the hype surrounding the stock (24c + valuations and the like) and didn't sell.

As I watched the SP plummet I convinced myself that given the assertion from management ('this appears to be the best possible outcome for shareholders') the SP would rise to similar levels again. It didn't and still hasn't.

Whilst I made a profit on VIL I suppose the point of my post is that if (ideally when)QPN kicks off, don't get greedy like I did with VIL. Take your profits when you can and try and free carry.

My strategy since VIL has been to free-carry where possible and it has served me very well.

Sermon over!