GMM

Of all my readers, only one occasionally buys or sells what I write about. So only one has bought GMM. Just look back to see how many times I have harped on GMM. I have had many top-ups but I cannot understand why the market kept marking it down based on one announcement which was immaterial. The management has even explained why that drilling was done but the damage was done.

Today it is over 22c. I am very happy few people want it and there were a lot of idiotic sellers. My problem is I don't have a lot of spare cash and there are other good value stocks to buy too, plus SPP, floats and entitlements. After a while, it becomes rather despondent when the share price keeps falling and you begin to wonder whether you are wrong. No, not with GMM. I didn't buy because I have already spent a lot on it. So I am a happy lad today with net alpha at lunch time!

The other sole buyer is buying me coffee for telling him to buy RRSO and to delay selling it. I think I will ask for another round of coffee for GMM! Hope he is reading....