George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Thanks for the reply Dave.
I was under the impression your buys were continuous over the 2 year period and of course no profit there :-)
Good to see you’re well in and all the best to us over the next phase of updates. I’ve mailed Mike and have arranged to have a call with him in the coming days.
I’m hoping this is now the starting point of a return on my long term time & investment.
ML
Not sure if your asking me ML but if you are..... I scaled my buy sizes relative to the risk reward which I perceived at the times I decided to buy.
Dont get me wrong each and every time I bought, I thought it was cheap, but there is cheap and there's cheap.
85% of my holding was bought below 1.5p and the majority of that below 1p in the short period it was possible to do so.
My av is now around 1.3p. I have posted periodically throughout the 2 ish years that imv nothing was changing yet the sp was going down and the RvR ever improving.
I was lucky that
a I was watching at the lows
b I had funds available (more so than I had had when sp 3p+)
c very little competion existed for buying - up until the morning of the announcement I got quotes to buy straight away each time (biggest single purchase 150k shares)
The news re the new PM being more pro Russian than the previous and the investment into madneuli buoyed my confidence, and as it dropped sub 1p I added and added pretty much right up to the news (in my mind the sub 1p buys carried 100 bagger potential within 5 years - *before news of tenure reduction).
I could have been even luckier - if the news had been 1 day later I would likely have got to >1m but very satisfied with my holding now.
As I've posted before, your posts over the time I've read the bb have been much appreciated, GL with your investment here and thanks for the info your have provided.
The tone of both you and GG's posting lately tho inspired me that sentiment was really at rock bottom, which I took as a positive (without any bad news obviously).
Turns out good old Thomas Fuller was right eh, so far at least - still happy to wait and see.
Apologies if your question was aimed elsewhere.
Btw I am very much small time, tend to buy and hold most long term, and have holdings in many companies but most are very modest. It's only when I see the kind of opportunity I saw the other day when I start to risk grand after grand day after day.
ATB
If you’re here 2 years do you mind me asking how you’re in profit?
ML