RE:RE:RE:RE:RE:Glenn Laingjjwilson wrote:
I actually value guys like patchHand who pose questions and provide balance to un-checked optimism.
A few years ago I was a shareholder in a company that was waiting for a court challenge to be decided. A positive decision was supposed to create a huge jump in share price and of course we all expected to make LOTS of money. The BB was mostly a bunch of guys posting about: how much money they were going to make, how long it would take for the money to be made, what price they were going to sell at when the price jumped, etc, etc. There was only one guy who posted anything negative and he was the target for everyone else - he urged caution and everybody else called him a fool for not buying tons of share "while they were cheap!" Well, as you might have guessed, the court case was decided and it did go in our favour but the huge price jump never materialized. Even now years later that company is struggling to capitalize on their win.
The lesson for me is that even if everyone agrees on something does not prove it to be true and I always consider the opinion of the one quiet nay-sayer in the back of the room. So, to patchHand I say thank you for posting your contrary view and for urging caution. Your posts have caused me to double check my due diligence and carefully consider my investment here. Having done that I have decided to participate in the PP and sent off the subscription agreement paperwork. I'll be sending the cheque later today or next Monday - the offer closes on Dec 14th. Whichever way you play it I hope for a profitable trade for you and for all the rest of us as well.
Cheers
I agree that it is good to have some negative information mentioned about a company or news to come to help others who may not have done enough DD or overlooked something. It also is used as a tactic for some to buy in cheaper, especially here in penny stocks where .05 can equate to thousands or thousdand of shares. I have posted many times issues that I thought should be brought out into the open such as the indefinate reelection or Correa or the issue with the indiginous people, delays etc.... BUT, there is a fine line between being helpful and posting such things for others to use and blatently bashing a company. Patch, has pointed out nothing but negative news as far as I can tell. I know what resouces EGX has and what roadblocks that may arise. No one cares to hear about someones losses or lack of DD. If you are going to post negatives, especially when quoting where a SP will or will not go is rediculous. When I post either good or bad, I dont just leave readers hanging on numbers. It is simple to figure out what resources EGX has. We know the recovery rates, pending MET results, price and tax rates (roughly). You can easily figure out what the value would be worth with about 30 minutes of time, a calculator and an IQ of above 40. If, Patch, your going to make statements about where you think the SP will go, as you stated in your previous email, take the time to explain why. We all have investments here and this is where potential buyers will go to see what we all think about it and judge interest in EGX. Negative after negative is only going to hurt the SP, but as a shareholder I am sure you already knew that. So, if you think EGX will never see $1.00, as you said in your last email..... take a minute to explain to us, in all your infinate DD wisdom, how you came up with such a rediculous number. Worst case scenario as I see it, Glenn does not go for the sale, but decided to launch these PP's to start infrastructure and mine a joint venture and we still have about $15 billion dollars worth or resources in the ground. So your saying that $15 billion, sale or no sale, EGX will just let it go? Or your saying gold will go to $200/oz. Copper to about .25/lb, silver to $2.00/oz? Because thats the only way EGX will have nothing worth $1.00 here. I'll patiently await your figures.... GLTA