RE: ⬆️ 16% and climbing ⬆️16 Apr 2025 09:55
Hi IDbuzz (what strange names we give ourselves)
You asked me some direct questions so it's only courtesy that I reply.
Yes I was a long term holder and I sat (like many others) at 98% down for years. As you know, at the back end of November last year there was a big spike nothwards. I did something out of character for me i.e. I piled in like a desperate gambler chasing his losses in a casino.
It paid off and I reduced my overall losses from 98% to 22%.
I had intended to retain a few as no-one wants to walk away a loser but as the SP inevitably bled back to the 0.015 ish again I sold my remaining shares, and accepted the 22% loss.
Frankly I was fed up of looking at the ugly red blotch on my otherwise blue portfolio.
I keep an eye on ORCP as I do see a potential for hit and run investing from time to time but currently I have no shares here.
With regards to the potential here, well that's the line that's been touted for years. I invite you to trawl back through the years and acquaint yourself with the numerous false dawns that have come and gone. This began life as a straight up energy play but now it's the potential of gold that's got folks hot under the collar .
Now more specifically, the gold intercepts to date have been OK but unspectacular. It takes many years to set up a new mining operation, even when the low grade gold is relatively near the surface, and a colossal amount of money. Whether what is ultimately found is considered commercially viable is not yet certain when you condsider the costs involved. The price of gold today is irrelevant as it'll be years before any actual recovery takes place and the price of gold may be back to $2000 an ounce by then. Although with Trump in the Whitehouse I expect the price to remain high as he lurches from one idiotic move to another.
Regarding Lignite, Lignite is being phased out around the world as it is the poorest quality and most polluting of all coals. I appreciate that poorer countries don't have the luxury of making such green calls but the pendulum is swinging against Lignite.
However, the gold and the coal are years away from becoming viable. It's been imminent for years and yet here we are. The can gets kicked down the road time and time again and I see nothing that's changed that.
I genuinely hope that all invested here make pots of money, but I do rankle when I read posts that claim this or that is DEFINITE rather than aspirational.
You yourself said a while back 'Yes, it’s volatile. Yes, it's high risk'.
That's the truth. There are no forgone conclusions here either way.
All the best.
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