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Oh dear
Anyway, guys. I have asked for 'Burleigh' to be deleted and starting the new year with a new name and no posting history apart from this little exchange of fire. Clearly, this discussion thing isn't going to work so the shed's all yours. Like I said, Legalwolf - you talk a lot and the talking always leads to making the wrong decision.
Legalwolf. Not one of your long discussions ever leads to the right decision. You're just a clever fool in love with the sound of your own voice. Lots and lots of words that always add up to nothing.
Not sure whats happening but yeah i agree, Merry XMAS and happy returns for you both and close ones. Switching off now for 4-5 days myself
ATB
Burleigh - you've actually been borderline rude and lashed out at me on a few occasions now. I am the one that has been on the receiving end. I've never retaliated by getting personal or being condescending in the way that you have. I didn't ask for this engagement and also feel that discussing investments with you is probably likely to do us both more harm than good, because we think and analyse differently and I don't believe you can tolerate my dissenting opinions, and sometimes end up reacting with emotion or getting brusque. Therefore, it is best if we just leave each other to it, and use the filter option if we happen to be on the same bb and don't like each others postings.
I will end by wishing you all the very best with your investments and for the future more generally.
Burleigh - thanks for the tip. I will look into it over the festive break and then let you have some thoughts on here. Did you catch this current move in GGP?
Each investment teaches us its own lessons doesn't it, especially on AIM.
I have often read, not on bb, but in books written by professionals, that it is unwise to have too many stocks in your PF from the same sector. I've been guilty of having mostly junior explorers in my PF (and watchlist), because that's where I started and its been easy to stay within my comfort zone. Learning about a whole new sector is daunting and time consuming. But for 2022, I'm going to try to venture out a bit and narrow down the number of goldies/miners in my PF. I'm thinking Cora (for a longer term investment, GGP as an alternative), and maybe ORR for the more speculative punt. ECR might get a look in if CresWick results come in. Maybe also WSBN with Red Setter.
What's been your most disappointing investment in 2021? I think mine has to be a toss up between ECR and POW.
Appreciate the kind words guys - and likewise. It has been a learning curve and, i think as an investor I'm not afraid to stick my hand up and say "Yes I've made some mistakes", it's making those mistakes has helped me pick out companies like GCAT & CORA. Companies that when all has been said and done, regardless of share price movement, you can hang your hat on and say that they've made tremendous strides in growing their assets and building up support for the company moving forward.
I've learnt to say my peace and both of you are very similar. I've got no time for following the board narrative of "This stock is the greatest stock and it will be life changing". It's why i left the GCAT TG group and started my own twitter message group. They only wanted "FACTS" and no twitter posts, and you had to follow the "narrative" of supporting GCAT and its the best etc etc etc. My posts kept getting deleted so i left. These type of services should be a platform for all views in that particular company. I can see good in a company, but can see areas of improvement. It's just about GROWTH for me and ignoring the current Market valuation. If those companies are providing opportunities to grow the business and expand, i believe long term, this will benefit my portfolio, regardless of the external factors
It's been a shocker of a year. Learnt to keep my head cool, reassess as i go and focus on companies delivering on their goals, and producing the grades needed to build up these deposits and take them to a mine. The BOD have a great influence too. I remember Cora doing a £3m raise back in the summer, and in the space of 6 months, had grown a 265,000 oz, to 800,000. A 200% increase, what a way to deliver with shareholders money. It's one of the first times I've looked back and not even questioned such a raise, when you know the money is in good hands. ECR buying those 3 properties, an astute move at the time and not the worst way to spend shareholders money. But just get drilling, not 1,500m campaigns. Drill until you find your sweet spots
Likewise with GCAT, the BOD are on the ground expanding that business and in the space of 4 months there has been vast movement. I'm sure you two see similar aspects with other companies which should really help moving into 2022
All understood Burleigh and will bear that in mind.
Burleigh - it has certainly been a stinker of a year for the markets - but I have managed to do better this year than I did in the previous year, which was my first year in investing, and one where the markets were actually very bullish (post Covid bounce). In reflecting, I have tried to adopt a more cautious approach, with protecting my existing capital as the number one rule, and having the belief that there will always be money making opportunities in the markets (which means I don't mind if I lose out on opportunities by not getting in, or getting out too soon). When the market offers you profits, take them. Because they don't last very long on AIM.
Burleigh - I think you make a fair point about the length of some of my posts. It is something that I need to work on. The problem is that I usually respond to a discussion that is already taking place, which can mean responding to several posts from several posters, so it isn't always possible to summarise in 3 sentences.
Me too. I think if we are well intentioned towards each other, then we should be able to have open discussions and debates and agree to disagree. Maybe this allows us that safe space/forum to do so. Good thinking Burleigh.
If this means telling each other we are mistaken, either in our views about a company, or indeed in our decisions to invest in a particular company or remain invested in it, we should be able to take that on the chin. My perception:
AG - very knowledgeable particularly in the junior gold space and very generous towards other posters. Maybe has a longer term horizon than most (especially on AIM), and is good at seeing the pros in that context. I think AG is becoming more ruthlessly picky with his shares, which I think is great.
Burleigh/Jtb - very experienced and good at critiquing but can be reactive sometimes to new facts/counter points of view.
Me - I am sceptical about AIM and the claims that many companies make. I think its like a Casino, with a well rehearsed/established method for drawing the punters in. So that's what a lot of the companies/ceo do, and there's often a lot going on behind the scenes that we don't know about. Examples POW, ECR, ORCP, the list can go on.
ECR has been a big headache hasn' it. I well remember that it caused me and Burleigh/Jtb (which do you prefer btw?) to have a bit of a tiff over the JV:-). AG - you were consistently one of the most loyal/faithful of investors in ECR that I really thought you would stick it out until CresWick results at least. I was surprised you exited very recently, after holding out for so long, but I can understand the reasons completely. I think we have both come to realise that there are a number of companies out there producing far better results. In fact, I can't think of too many that have produced worse results than Baileston? I'm in ECR because a) it's a small holding, and b) I've thought, wth, I've waited this long for CresWick results, that I might as well now just see that through. The emergence of Colin who has put £1 million into the company is intriguing though.
ORCP - From recollection, ORCP picked up the gold licences for next to nothing and from another explorer, and I was already disillusioned with the company, so I just dismissed the licences as an unconvincing attempt to detract from lack of progress on Thar. But those historical results are actually really good. So I've had another look at ORCP given its low levels and I have to say, I remain even more sceptical. This time, its the financing arrangement that really troubles me. I think that other poster has nailed it in terms of it holding the share price back. If you've got these financers selling large amounts of shares constantly, then how are you expecting the share price to SUSTAIN a rise? They don't seem to be investing IN the company but rather getting their placing shares and then selling them on? Burleigh, before you say, I don't think that is subjective, otherwise how else do you explain them having £1.5 million worth yet not having crossed the threshold? If I do buy into ORCP, it will take something more than what is currently being dished out, to persuade me its an investment over a trade.
Moreover, I am coming to learn that this can be said of many AIM companies i.e. are they investments or are they trades? It looks to me like the traders nearly always win (even if it is only 20%). Better than being down circa 40% being LTH as I have experienced on some of holdings this year?
Hi both - Burleigh you're Jtb, wth? You know what, I did actually wonder (as some similarities in 'temperaments/style')
but thought no, it can't be. Welcome back (but then you never really went away).
Haha Welcome back mate, last i heard, you was moving house a long time ago, amazing.
But yeah, it's very subjective. And in the end you get frustrated trying to reason or get your point across but some investors will never admit defeat, or concede a project isn't going as planned, no matter what evidence you put infront of them. For me, Creswick could be a game changer for ECR, but there are a lot of question marks surrounding it right now. 8 outstanding holes, some of them were drilled over 6 months ago, there has to be a point where the company are withholding market sensitive information, unless they have signed a NDA, for a partner to potentially farm/buy into the project. I have no regrets in selling and genuiely wish all shareholders the best of luck, with the knowledge the right news could land at any given time to boost it back up.
I'l never preach that my investment logic is correct, and is one others should follow. I just know how content I am with my current choices. Even when the share price is declining or trading sideways, I'm comfortable and encouraged by the ongoing progress being made by the company, providing strong support moving forward. CORA + GCAT, I'm expecting to rerate in 2022, both for differing reasons but have both performed swimmingly. The phase 3 results at Bibemi at ORR could stick them into a similiar category
Companies like ECR/WSBN/EEE all have that "potential", but have yet to show a flagship project, full of value and growth that the company could buy into. WSBN especially, but all eyes will be on Red Setter, especially with it being in a tier 1 location. Deliver the results, and that will fly but until they can demonstrate these, it remains a traders paradise, currently enduring a further sell offs waiting for news in 8-10 weeks time
I like ORCP - I have around 1.5m shares in my SIPP. Looking to add if it gets back into the 0.0030's. Financially, i should do more research with them. A lot of warrants being exercised, but this has provided a steady cash flow stream for the company. The Green hydrogen project should reveal a lot. Bags full of potential but it currently has many moving parts to consider in ****stan
I'l keep an eye out. I think it's been happening for a while now, even before Craigs sad passing. The low width, low grade results at Bailleston, yesterday was a bit of "Same of the old stuff", that said, the previous bailleston results to yesterdays showed a little more promise
There became a point about 4-5 months ago when the likes of me, LW, HappyHaddock and PaulFG all began questioning the results being reported by the company. Not to start an argument or de-ramp in any way, but to provide a balanced view as to the factors affecting the share price, beyond the decline in sector sentiment. A poster called Trek, i've always had a lot of time for. He trades and invests, but at the end of the day, does his research and i could tell by his comments yesterday, he's also becoming a little frustrated
Without getting too technical. There is a narrative on that board that the only reason the company are reporting narrow veins is because they're drilling across the mineralisaiton, rather than vertical holes. But this is incorrect. The only reason they're getting these narrow widths is because it's a very narrow system, even at depth. This isn't necessarily an issue when you can find high grade pockets, but if your not, you wont produce much
It's very common for companies to drill across mineralisation, to drill through the deposit and try and find parallel structures on the other side, with many I'm invested in drilling across the mineralisation and coming up with much longer intercepts
CORA a sublime example of this
Haha love this. I think it’s good to have a general discussion board to these instances
But ecr yesterday, a couple of very good points made on the ecr Board but as I’m not a shareholder any more I didn’t really want to throw my 2 pence worth in whilst there are many differing opinions flying around.
Hi Burleigh - you can reach me on here if you still need to. I will check in.
Hi Burleigh - what asset did you choose as your first foray into crypto? I've been interested myself but its very volatile.
Thanks for the links Burleigh. I (think) I've come across ITN before but not as a regular reader. I'll take a look at both in more detail over the weekend.
Burleigh, that's the 'hope' element of 'fear, hope and greed' playing out. The unholy trilogy if you like. AIM is a very difficult market to navigate. Firstly, there's a lot of seductive stocks that promise great value upside but are in reality built on sand. Investors get the sales pitch but then don't always get the full truth. I think it's a myth that the CEO/Directors work for the shareholders. They don't always do so. Their primary instinct won't be to enrich you and I, or protect our investment, but to keep the company going because it is paying their salaries. To do this, they have to keep the project hype going for as long as they can get away with it, even when they might themselves suspect that the substance behind the project is maybe not what they hoped for. It's then difficult for the average investor to navigate through this but hopefully experience will help them. We can only go by what we are told by these companies, and then use our own instincts and experiences to judge that information. This is always going to be subjective and there is room for two intelligent people to interpret the same circumstances in opposite ways. That is often what you see playing out on the bb. IMO, the bb views are just more information for us to factor in before making up our own (subjective) mind. Re ECR, lacking drilling results to date to give it any substance IMO and is still at the 'could be built on sand/hype' stage for me.
I think the problem is that some people on the ECR bb have very deep rooted beliefs/strong conviction such that I feel that they maybe aren't questioning what we are being told and equally importantly, not being told, nearly enough or at all. I don't trust the CEO because I do feel he dangled the JV carrot when it was never going to get over the line. If you think about it, what company is going to get to advanced discussions and then pull out on the basis of a fact that was known before they entered those discussions, namely, that ECR doesn't have the full licence package? Surely, they would have said what Newmont said, which is go away and come back once you have your licences sorted out. Why would they bother getting into advanced discussions just to pull out on that basis? Obviously, we then had the placing following the JV ramp.
So I find it more difficult to believe the hype because I tend not to forget past behaviour when looking at current behaviour.
Burleigh - I completely get where you are coming from. In fact, I think you are being very perceptive in your analysis here because I also have been wondering whether all is not well between him and the geos. In addition to the comment you picked up from a previous interview, did you notice that in his most recent interview, when he was asked about his bullish interview with Adam, his immediate response was to say how Adam was not the lead geo, but Kirsty was. It was impromptu and unnecessary for him to start with that point. I wonder if the lack of any decent holes has caused some frictions in the team?
The main thing that is keeping me interested in ECR is that it is in a fantastic jurisdiction. It has a bigger following (investor base) than most comparable juniors (on AIM) and good media coverage. They have had some decent results from PAST exploration which suggests that there is the potential for a discovery. They are actively drilling, and if they are able to release some decent holes, I can then see it really taking off. Anyway, I've posted my views on there today, so let's see what balanced debate or vitriol they bring.
Hi Burleigh - seeing what other respected posters are invested in is another useful aspect of a bb. In fact, you can see whether their investment decisions have been wise ones or not:-) I thought the ECR interview was a complete non-event. I don't like Proactive Interviews all that much because they don't question anything, and are just a nodding dog/smiley parade for the interviewee. I don't think the new NED actually said or added any new insights into company or made a strong case for why he is on board now other than his long standing relationship with CB. So there is a legitimate question about whether he will add value or scrutinise, but it's not all that relevant. ECR needs to find some decent amounts of gold in order to take off properly - the geology is always the central and single most important factor.
The ECR board is getting very tetchy of late. Months and months of underperformance will make investors snappy. I don't post all that much on shares I am not invested in or not interested in. I just let them go. I take the point that you should not post too much if you're not invested or have no interest in investing. That's not going to go down too well on most bb.
Re CMET - it's all about the EIA/IML for me. I see those as the main risks and will add upon confirmation.
Very true Burleigh. BB are a useful tool in terms of doing your research on a company and gauging the range of views and sentiment. Once we're all invested in a company, we learn more about the company, good and bad, and perceptions and views can change. If you're heavily invested in it, and new facts/information comes to light, which is not so positive, cognitive bias inevitably kicks in. I usually find that unless you're hounded out of the bb, there will be some (quality) posters who will be willing to have a balanced discussion. Probably 10-20% of posters are worth hearing from, the rest not so much so.