Ann: Record Production increases H1 FY18 Financial Result, page-8

I was fortunate enough to get in at 14c and was a bit in and out for a while on the way up - sold a bunch in the late 60's and then sat tight and watched it all turn to sheeeeet as it went all the way back to below 40c at which point I was squirming having watched a lot of gains go down the bend.

Had a couple of calming bottles of Shiraz and reminded myself why I bought in the first place - noting that nothing had changed for the worse with the Company - grew a pair - and bought a few more near the recent low of 33c. If you genuinely believe in the fundamentals and the macro picture for PM's (which I do) then barring unforeseen company specific issues, the better bet is a vigilant buy and hold in a good solid company with a clear plan - set the desired return and a pull the pin capital preservation level. And stick to the plan. Trying to time short term fluctuations has never worked for me and has generally ended in red ink.

RMS is my only goldie at the minute. Partly because I know it a lot better than any others and I think it has the best risk profile with potential upside of any producer in its size category. I could probably do with a bit more diversification but there is so much to like about RMS - top of the list is management and their record of achievement, it cannot be overstated how critical management are. MZ really is doing a very good job. Excellent even. Second we have no debt, third we have good cash generation. Fourth we have a good pipeline of deposits to go after and a couple of lottery tickets in Nevada in the US. These lads run a good ship. You may look around and see other stocks doing better but they probably carry a different risk profile. And equally you will see a lot that do a hell of a lot worse. 300% gain on the golden horse in two and a half years, 36% odd gain since the Dec lows. I get 0.5% p.a on deposit at the bank. 0.2% p.a on amounts less than 10k.

I'll take the golden horse any day of the week. And even with those gains, at the current share price there is pretty strong recognition that RMS is grossly undervalued at the current share price. As matters currently stand I am extremely happy with RMS -it's a buy for me.