Hi heraclitus, Esentially your read on my logic for making strategic investments is correct. I make strategic investments in companies because I believe in their projects, their management team and their ability to successfully implement their business strategies. As more milestones are achieved then the chances of a substantial market re-rating increases.
Obviously not all will go on to successfully develop projects but my goal is to make large strategic investments in those companies which have a high chance of success.
Take ESR for example; ultimately I think Colupo will eventually become a mine. Then there are all the other potential opportunities across their 2,686 sq. klm of tenements. This helps to offset the risk if Colupo fails to deliver.
