Re: Why $400 per share may still be low...
in response to
by
posted on
Dec 30, 2007 05:46AM
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
Just got organized and where did I leave off last night? Well my first read is Glorieux and an apology.
No need to apologize to me. I rather enjoyed the playback. Besides, there is an outside chance you could be more right than you are wrong.
What I'm trying to say is your hypothesis is no different or outrageous than many of the others that have been floated across various boards re this play.
To some the glass is half full but to others its half empty. I don't know how to live on that side that is half empty. Too careful. I go for the gusto. Mind you I have lost a lot of money with my mindset but I sure have fun with drug free adrenalin rushes that nothing on earth can replace. This is even more exiting than sky diving to me. Apologies to those who imbibe in that exhilarating sport.
I don't know if you were around for the Yukon Zinc feasco but the longs and pros will recall.
A year or 2 ago, I forget now, Yukon was going to mine. They had huge numbers of resource, the backing to mine, in other words everything looked good. I had thousands of my rrsp dollars and cash in this play. I always save 5000 cash for emergencies like if a stock is running.
I got into it cheap and was gloating over my soon to be new found wealth.
The stock ran up fast. In a matter of minutes it hit a buck ten so I threw my last 5k in. As soon as I did that they called a trading halt.
I thought, along with others of course, that we had a nice score. Well, after they pulled the halt, in about 10 seconds the price dropped from well over a dollar to pennies. All the big money bailed. You see, in this imperfect world, we are the last to know.
To make a long story short, I lost thousands. What was the reason for the drop?
The professional accountants had generated a mathematical error when figuring the cost of extraction. Yukon had to notify the banks before the share holders. So I lost thousands on a mathematical error.
I did not mope. I just swore. After the rush left my body which felt very tired, I sold my shares for pennies. I walked away with $1200 bucks. 500 cash and the rest rrsps.
Where do you suppose I put that money. Naturally I had to invest in a cheap play. I found MUG, FWR and NOT.
I am happy to say that those thousands I lost are all back in my account with many more thousands to go along.
So here I am still in my 6 cent or 11 cent a share play discussing shares worth hundreds? Believe me, this is the much better of the 2 scenarios.
When NOT hit all 3 of these plays had a run up which gave me the funds to carry on. That loss is now a memory. I continue to receive updates from that dog of a play to remind myself that "Murphy's Law" is always lurking iin the background with his evil grin.
Don