Ann: Full Option Exercise Underwriting, page-67

My personal cleansing notice.
I held both heads and options and was sure I would exercise the options when I said I would. I didn’t, I sold my oppies today for a profit to somewhat reduce my risk exposure to ESR. I didn’t mean to mislead anyone. I still have the heads and still believe in this project but I needed to bring my exposure down. Once the options were underwritten at 0.05 I knew it was good for ESR but figured it probably wasn’t great for me as an ESRO holder. I got out at 0.17 early in the day. It rose after that and I was way off the highs for the day. I didn’t see the underwriting coming, didn’t really understand it when the Ann. Came through and freaked out a bit when the SP peaked and started falling off the cliff so quickly after open.

I’m still in, with about 12-13mil$ Guaranteed for op ex I still feel we will find the elephant were after and happy to hold but I got in near the top and I don’t feel we have the time for drilling between now and oppy expiry for me to keep holding them when I had the chance to slim my position.

we all must remind ourselves sometimes that the key to “investing” is diversification.

I still like ESR future now we have money in the bank there is a great possibility for new discoveries.