pan orient energy corp.- l44-w oil discovery: , page-75

John,

Firstly I must say Kevin and Wayne see to be doing a hugely better job than the rodent and Mr Smug, but then that's for you West Islanders to decide, lol.

I too have done rather well out of resource stocks that I have approached from a long term investor perspective in recent years, but mostly that has either been through them being stolen from me shortly after buying, eg JBM,LIM or because I have read the changed circumstances, eg ROC,PSA and MCR before their collapses. I took your approach with IGO, riding it from a little over $1 to over $9, and back again, before recovering to near $4. Fortunately I topped up mostly well below current sp (and offloaded a few sometimes), and now hold 4 times what I did.

CVN has been a bit of a rollercoaster, and I have treated it as an active investment, offloading most last year, mostly in the middle of the price range while SRB was still sinking in, and buying back near the lows. Was caught out offloading a substantial fraction in April, but will take a patient approach to retrieval if the price looks a no brainer again. Meanwhile still a very substantial no. 4 in my portfolio.

I am not going to disregard POE market valuation, and will also remain moderately active. Buy, hold and forget was entirely discredited last year as lazy and naive at best. I will continue to buy on the basis of a long term perspective, and screen for likely longevity of the story as part of that to minimise turnover, but prepared to be active also, regardless that the timing will sometimes be poor.

EL