Oh wells. I've mostly sold out with a very small parcel just as...

Oh wells. I've mostly sold out with a very small parcel just as a reminder and god knows what strange raising might come in the future. Held with various amounts over 5 years. What broke my resolve is the gold announcement, and I'm being simplistic just by following what the management is saying they will do.

Gold from an asset worth 300,000 does not excite me. Prospect of a cap raising just to get the capex into a project I don't like does not excite me. Vertigo attempted to make comparisons of JORC to other juniors - well explorers are priced for potential - and that number at full potential @ mantle will warrant the 300,000 price tag. Not a market cap of millions. What changed to me is the risk profile. Sitting on brown coal assets is one thing, attempt to mine with the current market cap, is quite a different risk profile altogether which I can no longer stomach. Capex, unforseen events, too many things if go wrong will go very badly for the company. And then we had a previous raising for gold explorations as well, what came out of it? That's my main issue - I do not see this company as an expert on gold in any shape or form and now apparently it is the main focus. Too much for me to handle.

To make an analogy - if I buy into other gold explorers it is entering a lottery - the payoff can be big, however the chance is near zero. Mantle's project is more like a raffle - you are paying for something that will worth a couple hundred dollars (or for mantle's case, some income to off set the burn) with no obvious BIG upside - or you'd think something will come out of the 2 other gold projects by now. The chance to actually hit gold (hah, it already have some as per previous announcement) may be a little bit better than your average explorer but then again I've never been good at winning any raffles :) And you only enter raffles for the charity - noone hopes to get rich from them. Perhaps I'm a gambler at heart, aren't we all if you are into penny stocks?

So good luck and I will now sit back and not worry about my currently much reduced parcel.