Club Mulgoa

Monday, February 21, 2011

ABU

Alamak! In the Malay vernacular, this is the same as Mamma Mia or Holy Cow or F#$^*@.

How can a company that announces a JORC compliant resource of 1.6 million oz of gold be worth only around 3.5c, with a MC of $78 million, with more areas to explore? In Australia, too! I have been topping up this stock repeatedly but was sheltering a small loss for quite a while. Last two buys was at 2.8c and 2.7c and these parcels have been very profitable. Even with good announcements, share price fell and this is always a red rag to me to buy. I love idiotic sellers. I often wonder what goes on in their heads and what makes them sell when they should be buying. They must thinking about idiotic buyers like moi!

At today's price, I am currently laughing at the sellers.... Wait till the whole area is explored; the best is yet to come.

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