I took broker's advise to buy on open without limit.
Hmmmm....
Bought $12k of oppies at 5.1c
Couldn't decide yesterday whether to hop in at 1.5c and I ended up paying 5.1c!!
AAARRRRGGGHHH!!
I normally would wait for the initial run in the first 30mins to subside, but broker was keen to leave no limit today.....due to huge buy side apparently.
My reasoning re:value is that if RAU can run to 200M M/Cap on sentiment Re:Tungsten with no cash-flow projections....then quite possibly with the huge coverage FDL will do the same....making headshare 20c and oppies maybe 12c.
And I thought I would get them around 4c....for a possible triple.
Now i guess i just have to sit tight and hope to at least recover my position....350MT of IO is still cheap at 150/200M if it is really there.....and location and future infrastructure is excellent...also the 8M royalty from FMG...would cover a lot of drilling.
I also took a larger position in JMS as they are right next door with possibly 900MT at higher grade, and a M/Cap around 43M....they too are down 10% on my buy price at open...not a great day at the office!
I think i need E-trade so as to get instant alerts and to be able to watch the depth in real-time.
Can you get all the ASX Anns on E-trade instantly??
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