Member Info for myfirstmillion

Turnpike it's not a pump and dump I've been here a very long time, waiting patiently for true value to be realised and the way the fundamentals are stacking up with our resources and the wider green push for the metals we hold in abundance it looks like my patience will be rewarded.

The technicals back all this up. It's a clear as you can get chart wise.

Mr T no I wasn't in ufo but I know of it's rise. Selling too early is a common mistake that most of us have made at one time or another. I use a few simple TA guidelines to try to keep me in good investments as long as possible.

I went over the long term chart again last night after posting my breakout confirmation chart and although picking a longer term target was difficult I came to the same conclusion that 4p looked to be possible. Glad to see someone else has come to the same conclusion. It won't happen overnight but the likes of EUA, GGP etc. has shown that it can happen over 6 -12 months. Hold for the really big gains.

Shed I don't think I can elucidate any further. Grappa's example amply demonstrates my point though.

Wrt bzt I was using it to demonstrate how averaging down there would have been a complete disaster over the years. Buying in at the bottom as you mention could of course be lucrative but who knows where the bottom is? Coming down from £127 you could have thought it had hit bottom on thousands of occasions but it just kept dropping. I got lucky in the fact that my buy in price looks to be pretty good but it could have and still could go to zero. Hence why I never averaged down when it went lower over the last couple of years. I may not make as much if these companies rise spectacularly but I'll never suffer catastrophic losses that would wipe me out. Stay in the game to fight another day as it were.

Of course Joe, spread the word!

Shed, you don't see the danger of averaging down? Well if everything turns out alright there isn't any but what if your company folds or gets bought out for next to nothing or diluted to oblivion or some black Swan event turns up? Anyone that ever lost everything in one company never for a moment thought it could happen to their company but it does, companies go bust all the time. That is the danger, I didn't think I needed to spell it out but perhaps you believe that is impossible here?

I look at another company I'm in BZT, the shareprice at one point was £127.00 it's now £0.0027 and was as low as £0.00045 at one point. If you had averaged down there you'd be finished. Ironically they look to now be recovering and I'm fortunate that I'm just below break even and they have technically broken out of a long consolidation so I will most likely make good money there but it is a good example nonetheless of why I never average down.

Averaging up on the other hand is something I do espouse. The logic being that the market is behind your company and over time trends tend to persist, so buying on pullback in a rising trend where you're already in profit is a far more sensible strategy than averaging down as the market continues to go against you. Sail with the wind not against it.

I beg to differ Brad, without the certainty of funding the market will keep this shareprice low and the lack of funding will hold us up at some point. We have cash to kick things off but Lesedi needs drilling further and as outlined today there are many other items on their checklist that require money. Can they spend that money on those things when they don't know with 100% certainty that they'll receive this further funding? The companies we've engaged to build our connection must be the priority for our cash so that means than other things will have to be put on hold. Whichever way you look at this it seems to me that until we get fully funded our progress is being choked back to use an oil well expression. Are the funders waiting for the 10MW PPA? Probably.

Today the chart confirmed a clear technical breakout and close above the long term trend / resistance line. This consolidation has lasted six months so I would expect it to have some built up momentum behind it. Note the massive volume increase for the break over the last two days another good sign. The 50 period moving average is above the 200 period moving average and price is now comfortably above the 50. All excellent signs for a sustained rise as Colin Bird takes our excellent assets forward.
https://www.tradingview.com/x/eJ7QNt0T

Don't worry about me Cri5p I've made plenty over 31 years of investing and trading. As I said averaging down only works as long as it works and it only needs to go wrong once to be extremely costly but if you think it's a valid and sensible strategy you crack on.

In my view we need either the funding or the 10MW PPA to drop this quarter or preferably both. If we get neither I will be extremely disappointed. Yes they can finalise the tender contracts and yes those companies can probably begin work but all the talk at the start of this year has hinted/stated/intimated that one or both of those items will be wrapped up in H1. So to miss that timeline I believe would reflect very badly. It would look like the same mistakes repeated over again for the n'th time. Putting out statements that it's all tantalisingly close and then those statements evaporate into nothing. We don't need that again. So let's get one or both of those over the line in this Q2.

Chri5p I've always thought you one of the less intelligent posters on here and you've just reaffirmed that thought. Averaging down is a valid strategy until it isn't, it's as simple as that. You only need to be wrong about one company you're averaging down in and you can see all your money or many years of profits spooged up the wall. Conviction plays no part in it, you can be as certain as you like but things can still go wrong, and they do, more often than you'd like to kid yourself.

Then you come out with this gem, "Anyone who bought EUZ 4 or 5 years ago will be 15 times lower and whatever the idiots on here say the biggest reason was the price of the resources was 50% higher 4/5 years ago and this would be worth 2 or 3 times our current projected profit."

I honestly don't know where to start with this. Stupid, naive, foolish, self deluded? Take your pick. You're just plain wrong and I can't even be bothered to tell you why. It’s as if you've not read this thread for the last few years, yet I know you have so I can only conclude that you have so much invested that you refuse to accept any facts other than those which you make up. No reality other than the one where your over investment brings you untold wealth. If you are right it will be down to luck rather than judgement and with your investment mentality believe me you won't hold onto your gains for long because your are foolish and arrogant.

It wasn't obvious Brad but I'm a big enough man to apologise if I misinterpreted your point.

No worries Joe, I'll update it tomorrow at close after we break and close above that second trend line ;)

https://www.tradingview.com/x/lPP626kt

"why my reasoned arguments are whatever adjective you conjure up, in the heat of Toutrettes, same for ever other fool on this board!"

If someone doesn't agree with your 'reasoned arguments' that doesn't make them a fool Brad. What in your mind are 'reasoned arguments' are often just stream-of-conciousness rants, not a reasoned argument at all but instead a sycophantic jumble of dodgy metaphors, bad jokes, supposition and opinion.

I do try and cut you some slack because you may have early onset dementia but you've been posting in this vein for years with a high opinion of yourself and a low opinion of others so I will pull you up on it when you refer to those that disagree with you as 'fools'.

I definitely agree with your point about not averaging down. I know it can work out but if you want to keep going in this game, averaging down will eventually lead to catastrophic loss that you can't recover from. If this company pulls a rabbit out of the hat those that have averaged down will so very well, whereas I will just do ok but as I say as a long term rule and principle it's a dangerous practice to get into.

May you be handsomely rewarded!

Ironic then that you've just started 4 new threads.

I'm inclined to agree L Graham, can see double digits by year end and much higher if we attract partners for a farm down on the Walton/Morant licence.

Great interview from Colin, so excited and righty so! He knows how undervalued this company is. A good jorc resource already, new 100m plus Copper finds, Gold in the mix and a strategic battery metal in Manganese. If this doesn't blow the doors off I'm selling something else and doubling my holding. What a steal this current price is.