Potash

Today, FMJ (I don't any shares in it) came back from a trading halt and promptly leapt again. It has been leaping and leaping since its recent listing. Why? Potash. Potash here and potash there. I don't even know whether it has found the stuff or not but I bet not. I didn't bother reading because I felt that I have already missed the boat.

But the point is about GMM. The Russian has been to where it is exploring and has found potash. And it is very near China. Just north. The PM of that country was IN Australia yesterday (?still IN), visiting and encouraging Aussie miners to go there.

And guess what? GMM fell by >10% today. I have zilch spare cash. All are earmarked. NMS is swallowing a big chunk; almost compulsory buying because if I don't, the dilution will drown the value of my current NMS shares. Otherwise, I would have picked up more GMM.

So in the market, I wait for idiotic sellers but there are also many irrational buyers. Why chase one particular stock when there is another that offers better value?