Well i decided to take a bit of my own advice tonight, had a bit of spare time - finished work for the year - WOOT!
Always say, when you start to doubt a stock your in because of price movement etc.. go back over company and its announcements, and get back to the reason you put your hard earned into it.
Thinks its very easy to change your own sentiments on a stocks price movement, i was contemplating taking my profits on ERM and selling out, i currently have 100% profit on it at moment.
I thought ide give it a real good look over first before making any decision. Since taking a bit of a refresher on the stock, i can see why i got in in the first place. I think its very easy to expect things to quickly and place too high an expectations on results and price movements.
Ive gone over all their announcements over past 3 months, they are getting massive hits, and getting basically what they are expecting. There is no doubt, they are onto something very big here, and i think they no it too. They have hit high grade gold zones at both Monitor and Goanna, and i think people have placed too much expectations on near future drilling results, when these other drill holes where basically done to confirm the mineralisation - not to hit more high grade gold, i have no doubt GRC1373 will hit the same high grade gold zone that GRC1367 hit at Goanna, and its 90metres down plunge from it.
The reasons for my excitement here, is the hig hgrade copper they keep hitting along the corridor in multiple zones - there is heaps of copper there, but you can tell by Mr Bills excitement each time that they think there is a heap of gold underneath all these copper zones as well, like the high grade zones they hit in early November.
Stupid wet season, i just wish we could get those Diamond Drill rigs out there now testing underneath these copper zones. Also looks like we will have a lot of news from the other prospects as well, as Ivanhoe will be spending up to finance drilling on the joint venture zones.
Came close to selling, but this little refresher has made me put this one away and be patient - im just gonna sit on this baby longterm.
ERM Price at posting:
19.3¢ Sentiment: LT Buy Disclosure: Held
