RE: RE: ETA news, anyone? Thanks Ajimoto
I willingly stepped up and took some shares off the market this morning.
This is such a tightly held stock that the stock price can easily drop like a rock or shoot up like a rocket depending upon various factors/ issues. I normally don't trade mining stocks because of the amount of drilling that has to be done to find a worthwhile target. It seems there is no definitive way to find "the gold" without running the drill right through it, and that is a numbers game.
However, with this stock, that was brought to my attention by a friend, I did some deep due diligence and decided that the risk / reward ratio was ok since a lot of the drilling and targeting, etc. was already completed and therefore changed the risk / reward ratio to a positive number (in my playbook), and that a certain percentage of my "nut" could be allotted to this stock. Since it is a very low float stock it is not a trading stock for me, but a good holding stock. Overall market fluctuations should not affect the share price much here due to the low float. For every deep down day there will be a deep up day just based on people getting in and out for personal reasons.
Ajimoto, I admire your decision to sell some of your holdings based on your analysis and your personal risk / reward calculations. I only wish I had been able to buy in to this company at a lower price, as you must have.
I will continue to buy some more if there is any more weakness, up to my limit.
Cheers!
M