RE: About time others noticed!Very good point. I don't really know why I posted that because although I have a lot of respect for what Warren Buffet has done over his career, holding resource stocks too long can be a disaster.
Patience is needed though, because it always takes so long for a company to develop, for that matter it takes a long time for a bull market to develop. What I have a problem with on this forum is that Minco sits at .25c for 4-5 years - a screaming buy if you have patience. Then we surge up to $2+ and a bunch of speculators pile in and start going on and on about China and what a great play Minco is.
If you paid $2 for Minco it means you thought the company was worth around $40 million, I would ask speculators why they thought it was worth so much, and if they justified the price - what has changed so much that it is a horrible investment 1 year later? If you are crazy enough to buy in that kind of run-up you have to expect to wait at least 3 years to realize a return.
I look at Minco now about 1 year after its peak and I think the stock has come close to a bottom. I like what they plan to do with their properties and I like management, so although I've decided not to average up I think it is a very good time to buy, with a one or two year hold.
Regards,