You mean I was not crazy to re-buy this one, as it sold for not much more than net cash, gold in the ground nearly given away? They had a disappointing pre-feasibility (higher than anticipated costs and cap/ex) release in September, but are still a viable company with a viable property, unlike most in the exploration realm.
I had been trading the stock since buying at around a ridiculous .50 in 2008. Even with the booked loss on the most recent trade (taken at around 6.00, subsequent to this post) into the above noted news, KGN owed me nothing.
NFTRH added it back during its bottoming activity in the 3's and kept with it due to the chart, which continued to look constructive. Now, it's paying off. Sometimes, all that is needed is a little patience. I have a few other bottom feeds that have tested my patience as well and am not doubting that there could be more upside pops to follow. It's kind of the way this sector gets when the formerly frightened get brave and all come barging in at once.
http://www.biiwii.blogspot.com
http://www.biiwii.com
I had been trading the stock since buying at around a ridiculous .50 in 2008. Even with the booked loss on the most recent trade (taken at around 6.00, subsequent to this post) into the above noted news, KGN owed me nothing.
NFTRH added it back during its bottoming activity in the 3's and kept with it due to the chart, which continued to look constructive. Now, it's paying off. Sometimes, all that is needed is a little patience. I have a few other bottom feeds that have tested my patience as well and am not doubting that there could be more upside pops to follow. It's kind of the way this sector gets when the formerly frightened get brave and all come barging in at once.
http://www.biiwii.blogspot.com
http://www.biiwii.com
Hey GT, Glencore-Xstrata merger. You think all of a sudden, a couple major mergers or buyouts might force all these assets to get revalued more fairly?
ReplyDeleteI think that's what's happening here.
FWIW I got in with ATC today but might buy KGN as well tomorrow. Why not? It looks like people want to buy these crappy plays all over again, doesn't it? Make hay while the sun shines!
Being a bottom feeder, I can't chase these things as they are not core. So I'll stick w/ KGN for a while and will have to let ATC run on its own (it was on watch list, but I failed to initiate).
ReplyDelete