RIA

This was a loss for a long time (first bought in mid 2008, remember what happened around that time?) but I should have bought more! Why? West Africa is not only hot for gold; that is a well-known historical fact. What is really hot now is oil offshore. Already, Tullow has discovered a > 1 billion barrels off Ghana. And RIA's tenement is only just over 50km from it. And surrounding rigs are starting to drill. RIA is a slow starter.

I topped up RIA in late Sept 2010 at 30c using my full entitlement. There is a very nice write-up about RIA in the Portfolio section in Wednesday's AFR. Presumably no one reads this.... If a neighbour finds oil, or it finds its own oil, then the share price will rocket up. A brave soul will buy it now but the reward could be phenomenal.