AOI 2012 VS AOI 2022
My AOI shares are so old they came from their buyout of Lion or Lion Energy or whatever they were called and sometime before AOI made their first discovery in Kenya. Cost is under $2 and I sold some on the way up around $6 ish. I kicked myself for a while as it kept going up to $10 +, but my initial stake was mostly covered and all good. I also recall landing in Toronto in late May of 2012 on our way to the Indy 500. It was at $11+ when we landed. What a blast watching this stock rocket straight up that Spring.
There was naturally quite a bit of excitement and some at that time were calling for like $60, $80, even $100 as they had hit what was it, 6 or 7 in a row before finally missing. $100 or a 10 bagger was pure fantasy island, but I figured $20 was a given and wasn’t planning to sell any more – possibly not until the company was sold.
In my view, the excitement between then and now is clearly much, much different. The difference is simply they have the goods now and those goods are paying every quarter with the chance of future growth. Safe to say it is no longer Kenya or nothing.
Those who are in at these levels should be rewarded very handsomely over the next few years. After all it is now a cash generating machine with no corporate debt. What’s not to like? I intend to continue holding all of my shares and collect a little brewski dividend money each quarter. Thinking I just might stick around for another 10 years.
At the end of the day no one knows what the future may hold, but wouldn’t it be nice to see AOI trade just a little closer to fair value? Something tells me that that gap will tighten up very soon….
Cheers and GLTA