Re: Time to buy???
in response to
by
posted on
Nov 21, 2011 02:00AM
Creating value through Exploration and Development in the Sierra Madre of Mexico
D Flat,
Ah, I remember fondly having a great November with Kimber a couple of years back, and selling.
I'm hoping it can get back in gear sometime soon, but as you pointed out, it's a pay-your-money-and-take-your-chances situation. Still, I think Kimber is a lot better than most juniors in having the proven goods either to take into production itself, or to sell off to a bidder. Recent takeouts of other juniors, including Trade Winds that I owned, give me hope.
My huge, demoralizing albatross is Evolving Gold, or, as the cynics now call it, Devolving Gold, or Dissolving Gold. Way underwater in that one and, unfortunately, it's my largest position. Bought (too) high, and kept averaging down, although I stopped about 18 cents ago -- it closed at .39 on US Pink sheets Friday. Poor communication, failure to meet self-imposed deadlines, increasing dilution, these all plague Evolving Gold.
The stock has a JV in Wyoming with Agnico-Eagle and has had Goldcorp and Newmont buy in over past years, which I took as a sign it was an up-and-comer. But now the head geologist (Quinton Hennigh) is gonezo and I'm waiting around hoping against hope that additional Wyoming drill results (they announced some last week that were underwhelming, but have half the holes or so to come there) plus results from a couple of Nevada drill sites might get the stock moving upward again.
I've actually considered selling and taking my huge EVG loss and piling that into Kimber hoping to catch one of those periodic runs that sees Kimber double or even triple during a short time. I would be all too happy to sell such a move.
Good luck to all of us beleaguered junior investors......