The Instos didn't start buying until at least 60, and then probably more at 80, then more at 100 - you get the jist. They have been buying at levels up to current sp based on their visits to Blue Ridge.
I believe the instos will keep buying if management keep producing reserves upgrades and more cash flow. With that business model there is plenty of blue sky yet.
Some funds will need the green light from their inhouse analysts to buy more - which they will get after each reserves upgrade. Other funds will need to buy as MAD enters the various ASX300, ASX200, ASX100 indexes.
Note that none of the major holders have sold any meaningful amount of their holdings.
Then there are the the simpletons like me that have watched the stock for some time hoping to get in much cheaper but it just didn't retrace all that much. Or those also like myself that made a few quick pennies on the way up only to sell out for chickenfeed and then miss the real gains.
This is a solid and strong HOLD IMOH. No point doing anything else but watching the great story and admiring the way management are running this company.
Whilst it took me a while to realize what was going on (like Homer Simpson getting many continual electric shocks), when I did see the big picture, I bought in the 90's and more in the low $1 range. I now hold as many shares as I would have had back the the 50's. It just cost me an extra $30K or so to get them!. But that won't matter much when we hit $2 and $3 in the next couple of years.
I won't be parting with any of my shares anytime soon. I will likely sell when management sell which I'm sure will be multiples of the current sp in due course.
Good luck to current and new holders - we have a ways to go yet!
FDM Price at posting:
$1.29 Sentiment: Hold Disclosure: Not Held
