Club Mulgoa

Wednesday, May 11, 2011

New gold stocks

As hard as I try not to buy new stocks, I couldn't resist bargains.

I read in other companies' presentations and noted PXG was the cheapest by EV/AuOz. I bought it almost straightaway. To date, it is a 10% profit.

And then I read about a stock which used to invest in olive trees. But the new head is a guy who was associated with a West African miner. It is moving its strategy to West Africa. Of course, it is an unwanted stock at 0.3c. So I own many near worthless shares in OLE. If you want to buy, you will have to pay 0.4c today but if you want to sell, it is 0.3c. In reality, there is no gain. But if OLE comes up with a good result... somehow... then I see it translated into nice profit.

But OLE is a very high risk investment. Don't go into it unless you are prepared for complete vaporization of its value.

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