This strategy and explanation is a much more reasonable state of affairs Esh, I think you are finally reaching the acceptance stage. "The entire market is about balancing risk and reward."... yes, yes it is, and you took on too much junior mine development risk and got caught out. I'm not sure if you've posted elsewhere, but you might admit that taking on not just POG risk, and general market risk you fear, but also multiple re-development junior miners was high-risk and asking for trouble. Fortunately, the POG has gone up strongly and markets have kept hitting new all time highs, in reality you got lucky! The DCN's etc could have all come a cropper during a POG and market downdraught which would have been truly disastrous instead of just painful.
I'm not posting to be clever in hindsight. The fact is if you look at all my stock picks on HC this last 6 months, and I know you have, none of them are junior producers or even at the ramp up stage except NIC. I choose not to take on junior mine risk because history has taught me that-risk is not worth the return on average. When I do take on development risk I look very closely at geological and mining risk, because I understand them pretty well and because experience tells me they are the most dangerous, although not the most common. I'm posting to bury the hatchet because I think you love this game even though your currently risk-off, because your contributions are worthwhile even though I disagree with most, because you are one of the few has enough knowledge and experience to add value, and most importantly because you choose to contribute the time and effort to add value.
However, this is not a kiss and make up haha, not my style. The reality is I was enjoying playing a winning hand, a lay down misere no less. You were guilty of scaring the children with incessantly negative and jaundice predictions of probable losses on all gold juniors. Sensible caution to fellow HC investors is fair enough, but it was a constant stream of erroneous accusations against all management, geologists, resources, reserves etc. Not worth investing in, not even worth trading, not to be trusted, managed by banksters and fraudsters, and sure way to lose money. Just wrong and insulting, highlighted by posts praising people like Kevin Tomlinson. You continued to argue over Resource and Reserve numbers/methodology despite clear explanation of the facts and your lack of understanding to actually make a case (most low grade open pit Resources convert to higher grade Reserves btw, WAF is no different). Why you think me a WAF management plant is beyond me. Having one's efforts and opinions denigrated as such is quite disrespectful, you don't have to like what I say but I deserve enough respect to call it my own.
We are in a gold bull market, people log onto HC looking for advice and some confidence to punt the right gold stocks and you, who have enough experience to know better, was poisoning the well on everything. It's bad enough when ignorant trolls downramp a stock, but when it comes from someone who writes with authority and carries credibility it causes unnecessary anxiety, and potentially other's profits. With 675 followers comes responsibility, you needed a metaphorical slap to come around to some sense. You were at risk of becoming that crazy homeless guy at the Main St intersection with a cardboard placard reading "Repent Now, The End Is Nigh". At the beginning of possibly a great gold bull market only banging the drum of fear and caution is unreasonable and not what got you respected in the first place.
Fair enough if selling down your gold exposure and taking risk was what you needed to do. Personally I think it was wrong, you picked the gold bull market, it was just getting traction with the juniors, and the best risk-reward play to make back the disaster losses was to keep exposure to the winners, or at least take profits from the winners and roll into those good stories that hadn't run yet. Yes, the over-all market looks risky but is has done for the best part of 10 years, can't make money hiding in a bunker. Plenty of money to be made with the right cash-stock portfolio playing the right goldies for a while yet I suspect, certainly nobody knows when the music will stop. Again, you have the right to pick a market top and get out of course, but don't be upset if unreasonable doom and gloom posting cops a hard push back. A cash-goldie spread is the right 'low-risk' way to play this market, i'm glad to see you sticking around with some investments like WAF. Hopefully we'll see you get back into some other good opportunities shortly. That crash may not happen for a while, or when it comes it might just put a rocket up gold stocks as the world lurches away from fiat and into something real.
My goal is now your rehabilitation Esh, when I have convinced you to stop taking money out of goldies and starting putting some back in CDV I will know are well again haha. I am sheathing my sword. Cheers
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