RE:RE:RE:RE:News release Q&AThe averaging down strategy in this one has been what you more appropriately call "throwing good money after bad". I do not intend to continue doing so and averaging myself down to the oblivion.
Right now, we have a bunch of different rights to claims that will eventually only become worth something if they are explored and developed. In that context, management has not delivered much over the past few years and I will gladly average up if we get some real tangible progress. In that case, even a dime will be cheap so I have plenty of time not to rush. From my personal side, I was swayed by Scott Stevens' compelling interpretation of the geological prospects in Indonesia but that is somewhat decoupled from what the CEO and operational management has been doing. The other interesting thing is that obviously his compelling presentations and promotion of CBM Asia have not been so compelling to others. I commented on that a number of times yet personally ignored what common sense was suggesting.
Right now, this play is considered a write-off in my portfolio and at these levels I am not in a rush to crystalize capital losses. So Charuk and company have another year to move this company into the non-junk part of my porfolio. More than disappointing.
As far as all the newbies go, it was very predictable. Once there is significant volume and movement in the price, "something is happening" and a lot of volatility is introduced. It pops up on traders' screens and they are in to capitalize on the action. Suddenly you get dozens of newbies trying to outplay each other into profits who with their 15 minutes of dd become experts on the company and the industry. Action dies down or the expected news comes out and there is nothing in play, see you later and it is back to "normal" for the diehards. Happens every time. Volatility will happen here again so it will be the same old merry go round. But hopefully we are due for some good results for a change.
Happy new year.