@contraindicator Good question. Is there really plenty of better...

@contraindicator Good question. Is there really plenty of better 'value' stocks around? Plenty of hot stocks with questionable fundamentals, or good fundamentals and high valuations. I'm a sucker for min sand stocks out of interest, tend to ride these developers into hell and hopefully back out again. Becoming a habit. Madagascar has proven a bitch, not entirely unexpected. Management have proven to be game players, not entirely unexpected. Kwale is reaching the end of it's life, as expected. The situation looks grim but it's not as bad as it could be...

The current discount for fear and delay looks overs considering the situation hasn't changed other than ongoing delays. Madagascar was and remains corrupt and incompetent. If anything, BSE was over-valued last couple of years because of the Madagascar corruption/incompetence risk and BSE share price is only now properly reflecting that? I would love to be writing this post as a new investor instead of grizzling like a bitch, but I'm not because I'm a gambler and partly as sucker for all the "good news soon" pitches from management. They say it for a reason, it's confirmation bias that few are immune from... it works. I sold low 30's and should have held stronger for longer but I understand how a Toliara deal could be vinegar stroke close and just didn;t want to be short if the deal dropped one morning.

All history now. Why do I talk of doubling down instead of stopping out as good money management teaches us? There is obviously value left in Kwale and cash in bank, and Toliara isn;t fatally flawed until either a deal is flat out rejected, taxes offered are too high, or the project is nationalised. I understand the projects, industry and risks very well, better than most other projects I could segue into. Until I read something that seriously makes me worry BSE will be screwed out of Toliara instead of just screwed on time, the risk-reward equation gets better as BSE gets cheaper, and surely the finishing line get closer

Hope breeds eternal...

Madagascar Parliament to Vote on New Mining Code and Investment Law Next Week (bnn.network)

GLTAH