I had three gold holdings many years ago - Catalpa, Saracen and...

I had three gold holdings many years ago - Catalpa, Saracen and Dominion Mining. I accumulated Catalpa & Saracen at prices well under $1 and traded Dominion many times.

Patience paid off as Catalpa became Evolution and Saracen became Northern Star. I made over $1M on those two and I still buy Evolution when it is low and sell it when it is high. It took ages for gold to emerge from the doldrums and so patience was my best strategy. Both were good and profitable gold producers.

I also had a couple of spectacular losses - MOY and recently NML. Losses of over $100k in each of them. But the profits I made on others allowed me to swallow these with just a bit of hiccupping. But you have to keep punching. The secret to my success is "be in the room".

Dominion became Kingsgate and then the Chatree mine was closed. I averaged down to 62.5 cents and a couple of times I thought it would follow the same path as MOY and NML. I have only traded my KCN holding once. Just before our Thai unsecured lender came good with an emergency unsecured loan I sold enough to cover my initial stake and then bought them back when KCN looked to have survived. This lowered my holding price to 50 cents. I have 500,000 shares

I too find it frustrating that progress has not been faster but it seems to me that operating in Thailand is challenging. RSK has managed to overcome those challenges and the TAFTA award remains in the back pocket. So besides mistakes along the way I think that RSK has done a pretty good job keeping KCN alive and like some others here I think we are on the cusp of something special.

He has done what he said he would do. I don't begrudge RSK the bonus. I reackon he has earned it.

So I hope to sell out between $4-$5 before I get too old and put it into bank shares.

Hang in there

Cheers

CHN