CAP

http://imagesignal.comsec.com.au/asxdata/20110323/pdf/01164454.pdf

AGO owns about 8% of CAP. CAP was spun off from GIR. I have 2 parcels of this stock. When Fe was discovered near Broken Hill, the share price went up and up. Since then, I rarely look at this stock because I don't usually want to buy stocks that I have "missed".

Suddenly, I noticed in Hotcopper, there were posters suggesting that it is now good value again. There are many projects of good value and it has lots of cash, probably from a JV partner. Because it has skilfully signed up partners (to pay for expenses!), the cost to CAP has been kept low.

The best thing is the share price has been creeping downwards. I am still on >180% profit, after investing in 2007, 2008 and 2010. So it looks like it is time to reinvest. The 2008 parcels were in-specie distribution from GIR. How nice!

This stock has been a loss for a long time until Fe was discovered and now there is coal in Queensland, Sn and W near Broken Hill and a lot more prospect.

In Hotcopper, someone also posted about financial problems for its JV partner. Em... maybe that is why the share price has been falling.