I enjoy reading your contributions as well Mode and I agree with...

I enjoy reading your contributions as well Mode and I agree with some of what you're saying.

However , where we differ is in this notion that when investing in the markets or individual sectors like mining , fundamentals like the Geology you focus more on are NOT always what's driving the value proposition and consequent movement in the SP. And you don't have to look that far to see other stocks where fundamentals are interpreted by the masses to be strong , yet the share price has been deflated and/ or in the doldrums for long periods of time.

So a lot of this business of investing is about Markets and the broader sentiment of the market driving the directions of value.

In many cases , it can also be about Management and so it pays to assess these attributes in an in depth manner and to do so in an ongoing or regular basis as changes are made over time. These factors often factor in quite strongly with respect to ' Sentiment ' which in turn establishes the market trend or strong support etc....

I also disagree to an extent to your suggestion that the ground does not change because the land does change as the likelihood for success changes . So the value will ebb and flow as results either deliver positivity and likelihood for success or requires more exploration dollars to find anything economic.

So due to all these factors it pays to be cognizant of the ' Rotation ' of sorts which gives rise to appropriate timings for BUYs and SELL positions over time.

Because given all these varying factors , you can't afford to simply be long on everything you have based on ' potential ' exploration and geology you thought you had when the trend has clearly taken an about face in the Markets ...., or Management has lost its direction due to momentum shifts.

And as a fundamental Investor first and foremost , one of the hardest disciplines or things you have to do is to divorce yourself from this purist line of thinking at times in working out the timing and Directions of the Market , the work programs over the various properties held , the Management idle or assertive styles , and the rotation in and out of stocks where timing of raising fresh capital is required.

Lucky RDN investors don't presently have to worry about raising more capital right now. So you can tick that as a positive.