RE: US market12 Feb 2026 23:38
Thanks velcro, you’ve done very well to amass a holding of such size at that average without having to be invested for too many years. There’s certainly been a high opportunity cost for a decent chunk of my holding.
My first buy was at 3.4p shortly after the listing nearly 10 years ago, but only a few £k worth. Covid was the time I went big here. Rode it all the way up to 38p, selling about 30% along the way. But then buying again all the way back down. Unfortunately I had no dry powder to take advantage when we were at 4.5-5p back in mid 2024, having made a lot of purchases from 10p down to 6p. All of this, plus the big buying in April last year and lot of small top ups in the past year puts me at an average in the 6s.
The last couple of years back in the UK have given me the time to really dig into rare earths and what we own here in so much more detail than I did during the first 8 years of ownership. I look back to the previous rise and realise I was pretty clueless about the neodymium market, the macro influences and the technicals back then. I feel a lot more able to handle this kind of volatility these days.
I would like to have a bigger investment in sovereign but don’t have the funds available. I think with everything going on right now in the wider mining/resources sector there is so much money to be made and I have probably got a bit too greedy / short term in my thinking. Sovereign will make shareholders (including me) a pile of money, but while I guess it could re-rate at any point, it feels to me to be more of a slow burn and I’ve been focussing on more short-medium term plays. I’m also a little uncomfortable doubling down too much on Malawi risk. If Mkango reaches my profit slice level sovereign would likely be a substantial beneficiary, but we’re a long way (price-wise) from that at the moment. Who knows, maybe we’ll end up with a similar chat board over there down the line.
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