Ann: Gold Project Acquisition and Capital Raising, page-136

Hi FiveCent - this is exactly the question many of us long-termers are facing. I bought in years ago at a price not far from the current levels. I made that investment knowing full well that it was a highly speculative position. It's easily the riskiest thing in my portfolio. But the upside potential is stratospheric. My intention was to hold it until the grave and see what may come of it. I'm still holding - today's price is nothing special.

However, I also topped up heartily at the 1c funding round a while back, on the strength of Mr Kabunga's $600k (IIRC) commitment. Insider buying is a good sign, doubly so in these relatively opaque companies operating in risky jurisdictions. Insiders can be blind to problems on occasion, but they do know a heck of a lot more than the rest of us holders, and particularly given the sum involved (not pocket change even to a very wealthy individual), I decided I would make a further investment.

At this point, my VRC holdings are larger than might be considered wise. While you'd need heavy machinery to separate me from my initial tranche, my intention for that 1c top-up was to sell it for a reasonable gain in the medium term, should the chance present itself.

Arguably we're looking at that sort of situation now. And I imagine there may be others in a similar position to myself. So yes, I expect a little consolidation. I won't be racing to offload, and considering the current state of flux, there is a very good chance of selling too early and missing a large gain. In the very near term, we may see a funding announcement, good news from PDI, and results from the recently announced exploration programme. Given the flurry of activity, VRC may also have other plans still up its sleeve or further details to slip out perhaps, say, just before a CR announcement... And of course, the current pandemic sentiment in the markets is a fairly positive trend. There is likely to be a few deep breaths and a degree of return into these very high risk assets.

In short, while I and others in a similar position may have an eye on a partial sell-down, I would say the smart money is on not rushing...