Hi Shellbell,The main driving force for the current marketcap is...

Hi Shellbell,

The main driving force for the current marketcap is Obotan, which is a brownfields resource. All the creamy easy higher grade oxidised ore has been mined, leaving a larger unoxidised ore body, lower grade and requiring more work, (more money to get the mine running.)

Sure, there are plenty of greenfield projects being explored, but it is the brownfields that is the main reason for the increase in the shareprice over the last six months or so.

Any percieved negative to this brownfields project is now driving the price down.
Increased fuel costs
Decreasing POG
Increasing panic in the world markets
Unknown costs in extracting low grade unoxidised ore
Who is going to fund the mine
Better risks elsewhere.

As Stu said, that graph is very very simplistic, but for some explorers it can be worthwhile keeping in the back of your mind. Remember that only a small percentage of explorers make it to a mine. There are any number of bumps and lumps in the graph. (Options being sold, cap raisings, good announcements, bad announcements, newsletter recommendations, world events, demand, supply, sovereign events, country risk changes just to name a few) I love the oscillations that occur after too big a rise and too big a fall.

Asking where I bought and sold has to be taken with an understanding of my trading. I look for companies with good projects trending up.

Buy good quality companies and average up. Never average down.
Have a stop in place.
Don't let a profit turn into a loss.
Buy low, sell high.
Never fall in love with a company.

Without refering to my notes, I bought at about $1, then at 90 cents, sold at $1, bought more at 1.12 and 1.17, sold at 1.27 and 1.25.

Still holding one parcel from $1 and still procrastinating about selling it.

Hindsight, we all should have sold when it hit 1.30. One line from another poster is also in my trading plan
"You should have acted yesterday." Thanks lastlaugh.

Sometimes a trading action needs patience, other times you have to act, hit the sell button and move on.