You misunderstood my post. I was referring to the Glee Club approach to ELK over the past 12 months or so, compared to the reality of the Co. in relation to moving forward and getting production happening. Of course often the most exciting time & opportunity for sp explotiation for a co is in the exploration phase. All of been saying for some time, is that good news without cashflow will not necessarily see the SP boom... with the rider of course... please prove me wrong. I've been burnt a few times buying up in a falling market to lower my average. Unless you're well researched and up to date, it can be a disastrous vortex... sort of throwing good money after bad. I did this with AFG.... averaged down to $2.20... it plummeted to 0.14cents before going into receivership.
As for your question on where I've made buckets from. The answer at this point, is I do not have a single holding that is higher than the purchase price.
I have made some money trading but not enough to cover my 60% loss in equity since the slide began. I have great expectations for golds, KCN and MML.. as I do for ACR.a fantastic Australian owned biochemical which I reckon is as close to a bluesky in bio as you can get. Different sorts of companies but both producing and plenty of upside. I will regain my position on these before I do with ELK.
My point on logic is about balance BOS. Whilst you only hold ELK you have a singular focus and thats your strategy. Mine is diversified and IMHO once again, good news without increased production/cash flow/profit means little in the current climate. There are just too many bargins out there vying for not enough buyers. As the post on Warren Buffet stated, he stayed out of the market for 10 years because he couldn't spot an opportunity.
regards,
Hectobar
ELK Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
