Pull-back?We are all scared of losing our shirts-- and that happens even to the most seasoned of investors. However looking at SPA the performance has been extraordinary over the past month. Sure, there has been a pull back from 45¢, but then we are 4x what the price was 28 days ago. And there's been no news on the property, rather just Sprott coming in and rattling the cages.
SPA was a neglected piece of moose pasture, and I blame the management for that, they just would not spend any money on promotion.
Volumes have been over 1m per day now for a while,so the word is getting out,and some of the longs with big positions have been taking risk off the table, why not? Meanwhile the POG is going parabolic.
SPA is a late stage play, much of the proving up has been done, so one can count the ozs in the ground, and get a reasonable proposition on value. The management were poor on promotion, but are good on the engineering and the costings. So we have a reasonable idea of costs and returns
We may get a wobble or 2, but with a bit of news and the fair wind behind us, IMO we should be able to sleep at night.