Scorp, if it makes you feel any better, I bought FMG at 37c, way back when... I sold my last lot at $2.80 thinking they had years to go before they would reach the next stage of development and SP would settle. How wrong I was.
SP went on to effectively $87!!! in pre-reconstruction numbers (if you do the calc). So I missed out on about $4 mill...
I still made a killing but nothing like what I could have.
Example 2 - bought Cambridge Gulf at about 20c and made good money. Sold the last of my options bar about 5000 a week before the reports of "golf ball size diamonds bouncing off the deck" (later proven to be inacurate) - SP bolted to about $3 - so missed out on about $300K there for the sake of a week or so (remember this was mif 90s when $300K bought you a lot more than it does now).
STB - still holding but should have sold at $5-$6 range but at the time the thought was that they were heading to $26 (and may still do so but not any time soon). FMG was still ringing in my ears...
So I am still holding SIR and will continue to do so, as long as I am not losing money. I'd rather risk a pull back than miss out on a monster again - too painfull....... I bought in at 28c a while ago, stayed with them in the drift down to about 5c and will stay as long as the results keep looking good. I backed the people involved and the story in the first instance and now monitor the results which keeps me in.
Based on Friday's strength, clear the funds are starting to get their ticks in boxes that allow them to start buying (market cap being one) - they would not be buying if they had not done the numbers - so yes, I think this is going higher and for me, still worth buying or holding at these levels.
Anyone else thinking of getting in at these levels remember the usual - high risk, high reward, do your homework and get advice especially if you are new at this.
SIR Price at posting:
$1.92 Sentiment: Buy Disclosure: Held
