when to buy more, page-31

Al.
I sympathise because my CVN situation is a lot like yours.
For what it is worth I have had 10 stocks for quite a while. I always try to buy quality ("quality is remembered long after the price (paid) has been forgotten") so when one of the 10 goes into freefall I ask myself if the quality I saw before has evaporated,or if it is still there-and RESIST averaging down like the plague for as long as I feel able.
I have thus been able to contribute to the eventual cheap-as-chips,highly diluting,save-the- company cash issue.Ive done this twice since the GFC with the averaging down coming from sale of one of the other 10 stocks. The first action resulted in an eventual,but quite rapid,profit. The jury is still out on the second action (the stock with the lowest quality factor in the 9 remaining stocks after the first averaging down).
Now I am faced with CVN having gone down a similar path (but it hasnt needed a save-the-company issue). I resisted the temptation to average down until 19c (even though I maintained a consistent view that at all those prices on the way down that the stock continued to be a buy based on its sustained quality factor).Now the cost of adding 43% to my CVN holding has resulted in the sale of a third stock,at break-even.
If there is anything I have learnt about volatile mining stocks it is that you have got to bite the bullet and let them fall a long way before averaging down. If CVN had had a request for more cash,at rock bottom prices(I dont expect there to be such an issue),I would have almost certainly subscribed so I regard my puchases in the last 10 days as not much different to subscribing for a cash issue-a pain but as a member of a company you gotta do what you have to do.
Im sure you have other stocks and the looming 30/6 tax-loss date can only help if you have to go through the pain of selling another stock or 2.
My view of CVNs SP history is that it overreached on the upside at 80c plus and a more reasonable top price(with the benefit of hindsight) would have been more like 70c. I consider that a reasonable top price if CVNs fortunes become what I think they will is circa 50c (v.70c) with the probability of overreaching ,as usual . Put a bit more into CVN at 18c and you will get to 50c heaps earlier than you will see 70c again. A cash issue would have virtually forced you to put more money in to prevent others diluting your holding-at least you now have the choice .
Regards
Quality.quality.quality-you cant beat it when the going gets tough