OK cards on the table .. I was a buyer again this morning...

OK cards on the table .. I was a buyer again this morning punting that the price would be down as proved to be the case .. maybe a tad lower tomorrow but hopefully not as I suspect sellers will be getting thinner on the ground .. I hope ..lol

Ok .. what's gone wrong .. well it's fairly obvious but to recant:
1) The warrants - an extra 3-4% of capital to be issued ata time when the companny doesn't really need the cash .. there's probably 20-30c per share ..
2) The credit crunch .. cash isn't so easy to come by a the moment and there are PLENTY of fund managers hurting at the moment too .. very tempting to take a modest profit and bank new shares at C$2.30 .. still in the green ..
3) The tax issue .. it isn't enough that Zambian copper miners will be paying at least twice what they paid last year .. this grab for cash is very unsettling if the govt does not respect its own laws .. one step forward two steps back ..
4) The seizure and sale of Craig share's .. that's an extra 5m in shares gone into the market
5) TO .. the real spoiler .. the market realisation that all the planets and moons have aligned to cast a shadow over this company has withdrawn the Xmas enthusiasm so its been sold down .. however with all astronomical or astrological (whatever) events the sun shines through when those very same planets continue on there irreversible way ..
6) And this is my call on it .. The Zimbabwe election has highlighted the delicacy of this regions democratic traditions .. if there is a timely and fair resolution I think this will be a very good thing ..
7) Last but not least .. commissioning .. what happens if and when you push the button and all the lights go out .. as has just happened in South Africa .. the mine not only needs to work but it needs power too ..

So apart from the actual commissioning (which by all accounts is tracking well) there's nothing much the company has done wrong .. or could change ..

I think the 3% and 30% tax are not unreasonable ( by international standards) and will probably stand .. the super tax is another matter USD$3.80 is what USD$2 bought 5 years ago .. but a government does need to honour its on commercial undertakings. This is what Zimbabwe has done .. mandated prices .. very disturbing issue ..

Anyway .. all these issues appear to have formed a huge cumulo-nimbus over the mine pit and only six months ago the skies were such a cloudless blue ..

So I look forward to a whirr when the buttons pushed and not a .. well its wouldn't be golden .. more of a zincing silence ..

Cheers