Club Mulgoa

Sunday, March 06, 2011

NYO

This has been a loss making stock since I bought in the last quarter. Very exciting ground in Ethiopia. But the drilling results have not been bad yet the share price cannot hold. Why? I have no answer. I actually like this kind of stock, mostly because I am not selling and given the opportunity, I would buy more. If idiotic sellers want to get rid of their stocks, I am happy to offload them for them.

I have new contribution added to my cash account this month but it has gone into Potash West float today. This is spun off from IMA. Potash is hot at the moment. ELM with its near extension to its potash deposit in Congo has had another spurt today.

The market is down today and most stocks got a drubbing. But because of PCL, ELM and SSN, I am holding onto a net green figure. But I don't think it will be for much longer.

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