Ann: World First - Carr Boyd Ni/Cu Project, page-28

I am keeping a tight lid on this since it is extremely speculative and my exposure is tiny. It was not even worth my while selling at a profit yesterday. I will wait and see how the DFS comes out. Carr Boyd has what they call good potential and as CHN has shown, a few drills in the right place can deliver outstanding results. Markets are very short term focussed, with little patience, whereas I can wait. It does not always go well, with NML as my latest victim, and so I spread my holdings across many speccies but will keep holding success stories like CHN and DEG. I much prefer to buy stocks with some resource defined and ESR has vey little and so I have invested very little. By way of example, DEG had 2Moz at Mallina before they found Hemi and I picked up a good amount at 4.5c when the market lost patience and trashed them following a cash issue. The rest, as they say, is history. Even without Hemi, I think they could have succeeded, over time, even if less spectacularly.