I'm faced with the same reality. The thing is, I don't see Dundee as overvalued.
The fair value of a stock is based on an assessment of it's ability to generate a certain rate of return over a given period (usually discounted back to the current time). I see Dundee as being able to sustain a high rate of return or growth. Part of that comes the cash generation of their enterprises due to a low cost of production (AISC) and part due to the early-stage nature of their projects that they then mature. Now I get that idea from a combination of looking a their projects and my experience of investing in mining stocks. I think I'm likely to not only take my Dundee shares but use the cash component plus some more money I just freed up from selling some PDI (Predictive Discovery) which is just pre-FID (but likely to raise some capital allied to that Final Investment Decision). The whole move is based on the risks and return involved in a single more mature stock compared to a portfolio of less mature stocks on average plus geographic diversification.
Overall though, your plan has no holes. Which is very important for less experienced investors.
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