Hi Tildesley,I've no problem with the theory of what you are...

Hi Tildesley,
I've no problem with the theory of what you are saying I just think that it should not be understated how difficult it is to make the right call given the many factors i.e. which commodity, how far advanced is the target company, are we getting fair value, what will commodity prices do, where will the $A be in 12 months, is there a sovereign risk involved etc

Nickel (along with aluminium and most other metals) is having a very tough time and yes, the likes of PAN could be a target but its all a bet on the dollar, Indonesion ore bans staying in force, nickel demand lifting, stockpiles being run down, futures markets, hedge funds playing around etc.

It is very difficult to get right and that is what will be taking the time.

Having regard to the above and my own history with BC Iron, I regard myself as having being fortunate enough (lucky) to have been in from near the start. These rides are not common so to be looking for the next one right away through BCI is a lovely thought, but just a little too hasty for mine. Patience will be rewarded.

There is money worldwide looking for a home and the fact that many australian small mining caps cannnot get funds is an indication of what collective smart minds think of their prospects.

These come to mind:
"it takes 20 years to build a reputation and five minutes to destroy it"
“You can't produce a baby in one month by getting nine women pregnant.”
“Rule No. 1 : Never lose money. Rule No. 2 : Never forget Rule No. 1.”

I'll stop there...