There's a theory in roulette that you can't lose if you have enough money to keep doubling your stake and backing the same colour. You put £100 on red and it's black. Not an issue, put £200 on red and it's back again, put £400 down and red comes in, you win £800. End up with original stake profit, £100. At times, BMR feels a little like a roulette wheel with some of the posts and also to be honest, in my own investing decisions. I'm guilty of this myself in terms of whether I keep appraising the investment opportunity as a good potential for return on investment based on the information at hand at that time or whether I'm throwing more money with the roulette mentality of 'it's got to come good one of these days'. I try to make my top up decisions on BMR based on the information in the RNSs and the assets we know about. But equally, there is a part of me that thinks, this is the bottom, surely and it's got to pick up soon so top up to bring my average down. The progress since ZEMA approval has proved me wrong - we haven't hit the bottom yet and with the absence of any news, we will drift further. The only thing that is going to move this now is production starting. I just hope that in the same way the house can stop you doubling your stake on roulette when their exposure gets too high, that BMR don't pull the plug as they run out of money before it rises. There will be a lot of us who have doubled up (some based on facts, some based on the it's got to come good mentality and some on a combo of both!)
Below is a response to a mail I've just received from BMR. The first sentence of the second paragraph is brilliant!!!
Dear Mr Smith,
Thank you for your email.
Berkeley Mineral Resources does not at this stage retain a dedicated investor relations department and we regret we cannot reply individually to every email submitted to us. Additionally we are required by the Stock Exchange to only release information which is available to all investors.
We are however very conscious of the need to constantly inform investors about the exciting developments affecting the company and we will continue to give updates to the market when appropriate. Such announcements made by the company are listed in the “News” section of our website and we ask you to kindly refer to www.bmrplc.com.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.