1560m tonne magnetite worth 400 million, page-29

waiting will "see" but it won't be as cheap once we "see".
But that's ok, The current over sold share price has allowed me to double my investment in Maximus.
Sometimes a good idea to wait and see (if you haven't put the time in on the research..... ) but when I spot a company with some potential I buy when the sp is over sold....eg, when felix (FLX) was 6c and gbg 7.2c and WOR was about $4.10 and QGC was 19c and numerous others, guess who bought then?
I monitor on a daily basis, 11 watchlists with an average of 30 stocks on each and include the original price I put them on the watch list at (and most started trading at about an average sp of 20c) and have moved between about 50% below and some to 33 times the price ( in the case of flx, 6c became the equivalent of 60c following a 10 to 1 consol).( In the case of all four examples, I have sold some time ago).
Most were originally identified in the 2003 to 2004 period. If you check the capital history and the sp charts since that period you can see the sp growth ( and the capital history ) following the movement of the various companies through their identification of resource and/ or value.
More recently, ( from last year to this year) fmsoa went from my average buy price of .007c to 11c and most have since been sold ( I still hold some FMSOA).
The key, I find, in identifying these company's is to be able to buy sufficiently large parcels so as to have enough to be able to sell some on the way through to about 75% of what I work out their implied value is. Once they reach their implied value I have invariably sold my position and entered another minnow about to start on the path similar to that followed by QGC, WOR,FLX and GBG. It doesn't always work, sometimes I sell too soon ( don't we all ).
I don't buy with a plan of selling 1 or 2 months later, my investment plan varies but generally is 4 years. I retain about 75% and day trade about 25% when volumes allow.
While I post about what I see as good value, I am still buying and I often sell a share way before it reaches it's implied value as I identify another share that represents even better leverage. ( As I have done with FMSOA , which I have been selling to increase my holdings in MXROA and MXR).
From what I read on the hc threads, most non stock holders seem to have a very different concept of "time to value". If a stock falls by 50% over a month or two they clap and cheer thinking they have won some sort of competition, which of course it's not. When I identify a stock with good upside, the implied value generally only increases each month ( or each announcement) whereas the market sentiment can trick some observers into thinking the value has gone. The only thing that has invariably gone, is market support, and it's usually only short term ( around 3 to 6 months) . My investment time frames are very different than monthly changes in market sentiment, that can push the sp up or down 50% . In the case of MXR, I think they will identify towards the high side of the target range of 1.9 bn to 3.3bn tonnes. I actually think once the other blocks are added that it is more likely to be 4bn plus tonnes. And if this brings out non stock holders to bag me, it matters not. They have no influence on my implied value as the implied value is mine, not theirs. They will try and tell me there is nothing, zip, zero, zilch and no hope and the sky is falling in. From memory, each of FLX, GBG, QGC and WOR all went lower than my initial purchase price. As everyone knows, they are trading at $20.30, 83c ,$4.20 and $34.79 respectively.
The key is to do the research ( and I do a lot of it).
When a share price drops 50% or so, the portfolio looks a little depressing but the share price is reflected ( influenced) by so much sentiment that doesn't relate to the implied value, that the paper loss is only realised if the share is sold. Instead of selling, I see the sentiment as an opportunity to buy more, which I generally do. So in the case of MXR, if the share price stays around the 10c to 12c levels, I will be smiling rather than wanting to slit my wrists as the non stock holders would have us think. I'm increasing my position.
As I said about the Warren Buffett saying, if you like the hamburger you should be smiling as the price of the hamburger you want just got cheaper.
Of course if you want to eat the hamburger, and eat it too soon, it feeds you for only one day. And the next day you are hungry again. I think it's better to buy the hamburger store so I can have a hamburger each day and have some for my family as well. Of course some people throw the hamburger out as someone told them they think it's got no nutritional value or has gone off. That's the individual judgement we all make.
If MXR reaches my implied value I'll shout the burgers and a few dozen good bottles of Fermoy Estate cab sav (2001) at my local surf club before xmas next year.
PS, If you like Grange, it's about the closest I have found.

and if people keep selling at these prices I'll keep buying and I'll be taking up whatever I can afford when they do a placement or new cap' raising.
My biggest fear is that one of the cashed up larger Asian companies, who have an insatiable thirst for iron-ore, will buy MXR before it reaches it's implied value.

How good was the olympic record of Steve Hooker's gold medal win in the pole vault! Good on you Steve. Where did that performance come from? Gave me goose bumps....
Have a great weekend.... cheers fatstocks.