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Resurgam

2,151 Posts.

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27/08/14

20:23

Post #: 13883416
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Originally posted by HappyCats ↑

I'm unemployable so have no choice. Bills have to paid. You just need a strategy and hope it hangs together for long enough. 10% is enough average return provided you can get enough volume to churn.

Once upon a time I could buy up on pics of drill core to my hearts content virtually unencumbered by competition. For base metals it is easy enough to estimate grade and widths (+-25%) on core based on what is shown and what is not shown. Receipt of assays would give 6 figure payouts in some cases. Now that game is completely stuffed. Donkeys are buying up on an image of a single pyrrhotite grain in thin section under microscope. I don't know why that change in market play has occurred. HotCopper chit chat? The adoption of field XRF means that most core pics are accompanied by numbers nowadays anyway.

I have two strategies that are working for me at the moment. Will never post on them or the stocks involved. Logic says that HotCopper postings shouldn't change anything, but fear of loss of income makes for illogical superstition, and one of them works on super low volume so could easily be wrecked.

I sent out an email at about 11am with the link to the veg clearance indicating the chance that drilling will be good to go by Thursday. Would be interesting to see which brokers were the channels for buying today.

Returning home OS after a lengthy hiatus in Oz to see if I kickstart bashing my way through dysfunctional bureaucracy on my own projects. Some promising signs have developed recently. The priority project should be good for a 100 inch girth, a fake Titanic and a political party full of nutters if I can get it to fly. But after 6 years and considerable expense, pessimism suggests I will be relying on the market to pay bills forever.

Would dearly love a bull market in junior explorers, it is the only sector I know. Bear markets are so trying, where the average punters are taking losses and there are no feedback loops of capital. A scout around the forums is mostly a tale of misery and unrealised dreams. But there is still loose and risky money around - unlike during the GFC. My belief is it is coming from baby boomers retiring and thinking they can make a few bob. Also gives them the opportunity to spend their days being lazy on the computer and pretend to their wives they are still working.

That's my shallow and unsubstantiated perception of it all.

GLTA.

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Thanks for the insight HC. There is a lot of experience and untold stories on Hotcopper. Some of it invaluable to the newbie investor. Hotcopper could should wright a book!

CZI Price at posting: 29.0¢ Sentiment: Hold Disclosure: Held
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