I have been so tempted to top up and today it got the better of me and as the old saying goes, second prize is a bucket of poo and don't forget to bring your own bucket.
Why do it with the share price and the market going backwards? Well I have a good bit of faith in this varied group that Nick has coupled together.
Why would a father and son spend 17 years of their lives and millions of their own money re-developing an old gold mine if it was a dud?
Why would other very successful investors allow themselves to be lured into this venture and continue to be involved after all the unrealised targets? My thoughts are that they are privy to some very in-depth fireside chats, the likes of which we shall never know but we do have the opportunity to follow the smart money.
Have the Chinese got too much money and throw it around willy nilly? I don't think so.
Is Mike Botting a dud? No fear, this bloke is putting the complete package together. It has all been spelt out for us in previous updates and announcements, from the mine upgrades, plant upgrades, purposeful drilling targets, extraction improvements etc. Is he going to trash his career by coming to MCO if it showed signs of being a train wreck? I think not.
We will be told the whole story only after it has hit the ground running and in the mean time i expect more of the same.
Nick mentioned a while back that the selldown was the passing of shares from the weak to strong hands and that was a good thing for the company. From that I presume that the present state of the share price would be seen as more of the same, though only temporary.
Mike Botting is dotting the "i"s and crossing the "t"s and Nick Garling has brought together a group of large investors that remind me of an old "bitser" dog I had, made up of odd ones but loyal and up for a fight.
Who knows how long this will take to evolve but when I weigh everything up it looks worthwhile to me.
regards.
MCO Price at posting:
20.0¢ Sentiment: LT Buy Disclosure: Held
