Club Mulgoa

Monday, December 13, 2010

GBZ

Did anyone buy any GBZ? I never wanted to sell any GBZ recently because it has nearology and phosphate prospects. It isn't far from other successful copper mines so I kept all my shares this year.

I bought my first lot in 2008 at 8c and sold them about a year later for 15c and thought the buyer was crazy. It didn't stop at 15c... it went much further. But then it took a turn and started to fall and fall and fall. And even with good news flowing, investors are no longer keen on it.... except yours truly.

I even bought at 11c after RB wrote about its phospate prospect. And I did another top up at 5c in July 2010 when it had another good announcement but the market was uninterested. The share price had stopped performing wonders... until today. It leapt 100% today to 15.5c when it announced a major discovery.

One of the best investment virtues an investor can have is patience. The best asset an anaesthetist can have is also "patients". Always look after both!

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