DRA

At its worst during the GFC, it was down to 1.4c in November 2008, even with good announcements of gold find in Scandinavia, relatively stable gold price and low AUD. I paid 15.5c in 2007 for this company. No one wanted DRA but I won't dump it either. I topped up in 2009 and early 2010 at under 9c when nobody was interested in this company in spite of... good announcements, stable gold price and low AUD.

Do people learn from history? No. It was so simple to calculate the arithmetic. Moreover, DRA will start to pay a dividend soon. DRA for me, has swung from a >90% paper loss to >50% paper profit, most were bought after September 2009. Another lesson to learn is not to ignore or dump companies that are down, purely because of market sentiment.

The recent peak is 20c and it closed at 17c on Friday.

For a strange reason, it released a historical drilling results which was excellent but has the results just been discovered in the company cellar or did the board wait all this time to tell the market? I topped up again at 12c recently in early September 2010 because good news didn't move the share price; the share price jumped AFTER the release of the historical results. The implication is that more gold will be uncovered as more drilling is done.