Hi Timmothere are so many holes in the ground there in Mallina...

Hi Timmo

there are so many holes in the ground there in Mallina that the wind doesn't just play a tune when it blows, it plays a hit song that is going to the top of the charts.

The MRE is going to have to be arbitrary rather than definitive, hence the caution concerning the numbers. They are going to calculate it on the basis of the results returned from the assay labs as at a specific date and there will be increases in the resource as time passes and more drilling results are returned. Share holders are now sitting pretty and it is especially sweet having endured the jeers of those who sold out too early or didn't have the guts to buy before the discovery or shortly after it was announced.

We hear of many different investment strategies from the professionals, how we should do this or that to improve our prospects. In most cases it is pure baloney and they are just trying to generate "churn" upon which the industry can make fees. There are two strategies that the industry do not like because both strategies generate no fee income for the industry. One strategy that they dislike is the one where people do not invest their money because there are no profits to be generated and siphoned off for the industry's enrichment. The other strategy that they hate is "buy and hold" because while there are no fees generated there is a huge amount of on paper profits sitting there in front of them and they cannot siphon off any of it into their own pockets. That's right, instead of being long "volatility" or long "value" or long "growth" and switching to the factor that the talking heads are recommending for the day I am doing all three by being long "time" and just sitting pretty on my investment.

Like many here I have gotten more than ten times the return on my capital in just two years as well as a significant taxation liability, both of which are things of which to be proud. The professional talking heads would have told me not to put so much of my money into just one company and if I had had a financial advisor I would not have done as well as I have done. One comment from an online interview between George Gammon and Jim Rogers that has more thin a grain of truth is that people do not get rich by diversifying their investments. They get rich by focusing their effort and money into just one thing and then, when they are rich, they diversify their wealth into other assets in order to protect the wealth that they have made. Another thing that I won't mind will be paying a lot of tax. I won't mind it at all because it means that I have made a lot of money. Remember that - you do not pay tax on imaginary profits but only on real profits after you have sold shares. This is especially important when you realise that you can chose when to pay your tax by timing your sales of your shares to account for the taxation year. The rich have always been able to chose when they pay their tax and that is how they do it. Welcome to the club everyone.

For now I am going to continue to use the wonderful investment strategy of "masterful inactivity". I am going to sit on my hands and watch what happens. As comrade Deng said: It is glorious to be rich.