Ann: Capital Raise to Fund Major Exploration Program, page-17

I just sold my small holding for a 66.7% loss. I'm thankful I only had a small investment. I've learnt 5 important lessons re gold companies.

1. Quality Management with a track record of delivering value to the shareholders' investment in the coy.
2. A good resource base.
3. Sufficient capital to enhance / develop #2
4. SP must in a Weinstein stage 2 uptrend.
5. Tenements must be in a Tier 1 location.

Unfortunately ANL (ASX code easy to remember as sounds like anal) only ticked #2. ANL was my first goldie I invested in and my worsest. I've since invested in others which meet 4 to 5 of the criteria I've listed above. These have yielded a 70% return on capital invested so far. So the cost of lessons learnt have been worthwhile.
CHN, DEG, EVN, GOR, MHC, MZZ, NML, RED, RMX, RXL & TSO

GLTA, I hope that your patience is rewarded but sometimes it is prudent to cut your losses and invest your capital elsewhere. A seasoned share investor, with over 50 years trading experience, recently advised me to have a shop keeper mentality. 20% of your stock produces 80% of your profits. Keep deleting those 80% stock lines that produce little or no profits.