its all hype folks

I seriously doubt they'd be trying to raise funds again so soon, especially after what happened last time. They're actually pretty cashed up at the moment. Why are you so certain you're right about another capital raising? Anything solid to back that up, or 'just a hunch'?

I've been sitting back holding this stock without saying anything, reading some of the ridiculous posts in disbelief. I've never seen so many emotive posts with little substance on any stock of this size, varying between predictions of quadrupling within a short time frame to ceasing to exist in a year or two. Not to mention certain posters swinging wildly between extreme bullishness on a daily basis to talking it down, then back to bullish again.

For anyone out there holding a sizeable chunk of stock like me, I highly recommend that you ignore 99% of what you read on this forum. To have any hope of being a successful investor you have to be able to insulate yourself against the emotive babble and hiss and make your decisions in calm detachment, based on your own analysis of the facts.

I'm not happy that my average price is 2.45, but I invested on what I saw as the facts at the time, which included the high likelihood that Ranger Deeps and Jabiluka will both be mined eventually, and that new uranium discoveries in the area are more likely than not. The well documented problems that are raked over time and again in this forum have not exactly been ignored by investors and that is why the market cap has been sitting under a billion rather than several billion a few years ago.

If you want shares in a significant Australian company at a fraction of what they traded at 2 years ago you have to take the good with the bad... of course there are problems, general sentiment and the uranium price included. But prices fluctuate, flooding ends, disputes get settled and sentiment changes. Discoveries occur, management evolves, new safer reactors get designed, life goes on.

You can buy stocks when everything is going swimmingly, but then you rely heavily on the status quo continuing. I actually prefer buying 'problem' stocks where I think their potential is being overly discounted; in some ways they are less risky than 'flavour of the month' stocks as they are not inflated by sentiment, which can be fickle. Uranium as a sector appears seriously oversold to me and like it or not, ERA is something of a bellwether in the sector due to its sheer size. If uranium sector sentiment improves, and from such a low base that is fair bet, and especially when the physical price starts to appreciate again, ERA is most probably going to be a nice place to sit.

The main thing I wanted to say is 'Don't let the hyperbole you read here alarm you unnecessarily'.

It's also unrealistic to think that just because the share price is currently surging that it will be all beer and skittles from here on; major problems have to be worked through over significant time periods and the share price will fluctuate according to all sorts of factors, many of which will have little to do with ERA's immediate situation. The shares may give back 20c tomorrow, but that won't necessarily mean anything sinister. Trading takes on a life of its own, especially with shorting now a major part of the ASX landscape.

A final thought. Some of the best investors I know never go to internet investment forums. They don't want their emotions to be whipsawed back and forth. You need to be able to tune out the noise and make calm decisions, or markets like this can eat you alive. I'd probably do the same except it's so damn entertaining :-)