I'm gonna go out there and say I'm happy I was able to get in at these prices. I expect the big announcement of Fed permits could come in the next two weeks.
This has been a very volatile stock which has made some people money on its fast rise up after right of way granted to state land and Diggers reco, and burnt some on its rapid decline after 3 state hole drills. That's how this goes, at times we are playing against each other, or at the least against those that have the money to influence markets.We usually don't have instant access to valuable information, and purely have charts to gauge the influx/exit of money.
Entry price can be very important, imo, to be able to hold with confidence and not risk going into loss territory, especially with a stock than can swing wildly like POK.One thing is for certain, imo, things will be decided very rapidly with this COY. This year and even the next six months will decide the fate of this coy, imo, at least in the area of POTASH.They have available to them some groundwork that will enable them to define a JORC very quickly.They have gone and changed their name and employed local US expert as MD.IMO other board members are not integral at this point, despite recent bad publicity/comment of the chairman.Ben is the man,imo, he is a very qualified expert who POK are lucky to have.They have cut short the drilling on state land to focus on what they are very sure is there.It may not be 5.2bt but 10% of this will be very significant.
They are 10km from a multi billion MC coy whose potash beds run into POK tenements.The potash is potentially the highest grade of any coy on the ASX.
IMO, if they can define a JORC of >500mt at >30% KCL (slyvinite) it will be one of the biggest stories of 2012.Majors will be all over it, judging by recent transactions in the sector.
I am at a loss to try and explain the sell off to this stage other than fear factor. Hopefully there is no underlying problem with Fed permits as AB has eluded to as an outside possibility.I don't think so.We will see what comes in next couple of weeks.SP decline always come with doubts in coy and is how the SM accumulate.Best to buy in times a fear is the cliche.
I was very tempted to buy in again on it's recent activity towards its highs even at prices around $1.20 but maintained my principle of FED permits being crucial. I was lucky enough that the markets over emphasised state drills and enabled taking a punt at these prices, although I feel for any of you who have been burnt by this.
The next couple of weeks will be very interesting to see in terms of the SP.IMO there will still be volatility but I cannot see much downside, I hope I am correct, or even I will start doubting-lol! Don't get my sentiment wrong, this is still very speculative, ,BUT, the potential upside is substantial enough, especially at these levels, to have a punt on this story and whether it makes the big time this year.Potash has got to be one of the safest commodities going forward with most experts predicting rising prices in the forseeable future, and rising demand from emerging economies set to soar.
Good luck holders, one thing is for certain, I will be a regular contributor to this forum again-lol!
POK Price at posting:
51.0¢ Sentiment: Buy Disclosure: Held
