Correct me if I am wrong but I don't think that there has been any big finds this year! Pretty unusual as they normal find 2 or 3, it's the main reason PDL have been able to delay administration for so long! Boy we could do with a quick cash boost right now! Is the COVID situation still causing issues with the mining section in SA?
RE: Buying a little more each week29 Jul 2020 10:34
Agree, this stock will be gold in the long term (only risk could be a buy out) but the main risk is the opportunity cost of sitting in it for years! I bought a small bit back in 2015 but really started piling in late 2018/early 2019. I want to keep some here LT as I'm so confident this will be a high cash flow business with good dividend but I'm a bit peeved that I have so much cash tied up here waiting for some positive price movements.
There are basically only 2 players in the online grocery delivery market and that is Amazon and Ocado. None of the other supermarkets are really set up for it and it is just an add-on business that will continue to run at a loss!
@CrystalBallBroke Purely on a long term technical perspective of price levels and on the shorter term descending triangle which means a break to the downside could be nasty. On a more bullish note, bullish divergence on the daily and weekly RSI could point to a rally in the short term.
Not happy with this price movement as there is next to no support below these levels. Moonman, you may have been sensible in jumping ship. Hope I can cut my loses as quickly if this weakness continues!
An opportunity for someone else. I am too heavily invested here already and cheap as it is, it is still above my average buy price. I am still bullish on this project but the opportunity cost has been painful! Hopefully dilution will be limited and my faith here will be proven with at least a 10 bagger!
Just bought my 2nd lot for 37.1p. Up to my standard position size now. Might go over it for this one if the price keeps drifting down. Seems like they have some good short term potential and we all love a quick buck! Frankly, I see 35p as the absolute floor. If it drops past that with any momentum we may have to reconsider whats going on.
Had a small position in this for a while. One of the buy and forget types! Company seems badly run but there also seemed huge potential in their sites, well one at least! Was 50% down but this move has pretty much took me back to break even. Anything less than a 10x isn't of much interest to me though! ;P LOL
Always feels bad when you buy a share just before a big drop. It is why you always need an exit plan to cut loses (or take wins). Nowadays, I never buy in one hit. I rather average in at higher prices than invest a full amount and watch a 50% fall.
Bought a nervous position here. Despite the price weakness, it should find some support around this level and bounce. I say nervous because if this does break down, I don't see any support until around 27p! that's a big drop from here. On a more positive note, I looked through the balance sheet and income statement and SGC really does appear undervalued. Open to listening to other opinions.