thanks Pihrana.
yep, agree, it’s best to get these things right upfront. any word on sales at mine gate to BSM’s? This would take one of the remaining risks in my mind out of the equation. Their original prospectus did point out the possibilities of both strikes and/or disruption to the ore shipments on that long 700km road haul, by locals who are against the mining. It has happened in this area in the past apparently.
i’ve always preached patience. I retired early (at 56) in 2005 on my investments. They were mainly in what were penny dreadfuls to start, that I saw great longer term potential. OXR, AOE were 2 of the standouts (40+ & 25 baggers respectively). We had another 40, several more 20+ And plenty of 10 baggers. A group of us who became disenchanted with the abusive boards in those days, set up a website based group that was spectacularly successful. Lot of people, bought houses, boats, paid off mortgages etc. we worked well together as a self help group, to figure out the best of the many potentials in those days.
I was part of organising the Oxiana billion $ party, where we had a fabulous black tie dinner inviting the top 6 executives at our expense. More than half that $billion mkt cap was in the room (penthouse at the Langham) that night. Heady days. BUT, it took a few years and many tough retracements before they finally took off. Patience is key to investing in emerging junior resource stocks, in particular.
cheers,
ned.
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