comparative peer values, page-130

Thanks, Bluegoose. Re that big hit of mine, interestingly, I didn't do anything particularly clever but I did the following:

* invested in the right sector (so the rising tide would help lift my boat - as with lithium, now. World-wide paradigm shifts like this, that traders can potentially cash in on, can have phenomenal effects when you call them right);

* worked out that I liked management - how they were handling themselves , so I trusted them to maximise whatever opportunity presented.
(I'm confident about this with Lake, too. They've showed excellent vision, application and follow through so far.);

* assessed why I thought the stock was underpriced and took the view that the reasons were more likely than not to resolve favourably - which they mostly did.
(Similarly, I think I understand why Lake has been under the radar until now, and I think some of those reasons are starting to disappear e.g. getting approvals, starting drilling, proving we've got the good stuff, promoting ourselves in the right places etc. I see tremendous upside potential for Lake when enough boxes get ticked);

* bought enough to hold a big position but trade a (small) few along the way, to satisfy the urge to take some profits (that's why I've averaged UP, as the risks clarify);

* tried not to make price predictions but just assessed data inc. comparative prices as things developed. I found that when I made predictions my ego wanted to justify what I said and, since that inevitably was based on previous data, it tended to lead to bad decisions.
(I don't know what Lake will get to so I refuse to distract myself with predictions when talking to friends. I do however think that before too long Lake will be shown to have been very, very cheap when capitalised at around $30-$35M, on an absolute basis and also when compared to other explorers. The lithium boom will be with us for a long while yet, as energy is needed by almost every person in the world, and the first wave of changes that are coming hasn't even hit us yet. So, I expect to be a shareholder for a long time yet, while keeping an eye on industry developments and markets generally).

Like you, I'd love to see other shareholders also make really big money out of this so I hope people do enough to support their chances of success.