announcement - asx 300, page-11

i still hold lots but I must admit I did sell down a bit recently in 1.05-1.20 region as while I still believe that the drilling will be economic, I must admit I can't say with 100% certainty that it will be. I'm willing to take a big risk saying 'yes', but I would rather not be risking 70% of my net worth on it.

I follow a lot of goldies primarily and so I can best use them as examples.

NST shows what you can do with previously 'mined' land. It shows that if you do it well you can make a motza.

KMC shows what happens if you rush out like an idiot on a previously mined area with no plan.

Personally I still believe MAD is going to be to oil what NST has been to gold.

I can't give a reason moreso than 'faith in management', so it comes down to how much you want to risk on having 'faith in management'. Personally I'm happy to risk about 30% of my portfolio (im quite gutsy!), but not 70 (not that gutsy!).