Hi everyone,
I know you're not too keen on newcomers and "wannabe" share traders, etc, but I just wanted to mention something that you may find interesting. I apologise in advance for the length of the post, but I'm sure you'll forgive me once you've read what I want to say...
It may surprise you to know that I had never heard of Mt Ridley Mines before yesterday. However, a couple of weeks ago I received an email from Port Phillip Publishing recommending I take out a subscription to a newsletter called "Resource Speculator" by Jason Stevenson - the one to which you're all referring. I decided to give it a shot because it was on offer at only $49 for one year or $99 for two (and still is, as long as you subscribe to any other PPP issue - even their free editions, as far as I know).
Anyway, I opted for the one year subscription, having never heard of the newsletter or Jason before, and not knowing if it was even legit, but I inadvertently clicked on the two year deal and ended up paying $99. At first I thought, "Great! Just ripped myself off", until I received the first of many email newsletters and .pdf reports, complete with passwords and warnings not to redistribute any of the copyrighted, confidential and price-sensitive material, etc.
It didn't take me long to realise how in-the-know Jason Stevenson is, from having had years of experience in the resources game to actually visiting all the sites he researches and recommends, and even hanging with all the big-wigs, head-honchos, etc. Jason Stevenson is the 'real deal' as far as I'm concerned, and I'm guessing there are many other subscribers to his newsletter, because just seeing what has happened to MRD's price in the last couple of days since he released his report, and the way you're all talking about him, he obviously has a major influence in this field. Of course he's going to get the odd one wrong, but don't we all? That's the name of the game, isn't it? I guess Jason just has more of an 'edge' than most, that's all.
The following quote is simply Jason Stevenson's opinion and in no way constitutes financial advice. It is certainly not an infringement of copyright, having disclosed the quote as his, and nothing that is stated crosses the boundaries of confidentiality. I just wanted to show you a snippet of the information that led to my being at least intrigued.
He writes:
" Mt Ridley Mines trades on the ASX for 0.9 cents per share and has an enterprise valuation (market cap less cash plus debt) of roughly $9 million.... Looking forward, Mt Ridley could become the hottest resource stock on the ASX. Its geology, geochemistry and geophysics are first-class. The combination has uncovered multiple drilling targets in the Fraser Range of Western Australia. That reduces the risk of finding nothing. It also maximises the probability of tapping the mother lode. The company is preparing an extensive drilling program now. Assuming it’s successful, the share price could climb 689%, to 8 cents per share. That implies an enterprise valuation of roughly $95 million...."
It's nothing that you guys probably don't already know. But to newbies like me, and obviously heaps of other readers, it's a HUGE deal.
Now, as you can see from my impressive posting tally, I only come on to Hot Copper very occasionally, and usually just to read other people's opinions of a particular stock. If you can be bothered to check my history, you'll see that I made most of my inane comments many years ago.
So, as usual, I once again logged on to Hot Copper to see if anyone else had heard of MRD or even had shares in the company (naive, I know), and was surprised to find this thread. Then, lo and behold, I was even more surprised to start reading about Jason Stevenson and how influential his Resource Speculator newsletter is. And here I was thinking I was rather special being his one and only subscriber!
Nevertheless, just so you know (and again without 'officially' revealing any confidential info), Lazarus guessed well... Having said that, someone else commented that many subscribers or less sophisticated investors than your good selves wouldn't care about getting in a couple of pips higher, just to be in. Well howdy folks! I'm just part of that herd who thought it'd be best to get on the band-wagon before it bolted. Now, I don't know if I'm an idiot or not, but I'll admit I bought in a bit high (0.017) simply because, unlike you guys, I had no idea at all about the company (apart from what Jason had released) and whether this thing would suddenly fly or what; but I thought it'd be better to be in a little high than not at all.
So here I am.... From never having heard of Mt Ridley Mines two days ago to writing on HC about the company and hopefully sharing in a profit of some sort! I am truly amazed at the massive volume at which MRD has traded in the last couple of days. I'd like to say it was me who bought all those millions of shares, but I actually only bought a relatively small parcel, not knowing what I was getting myself into (and also because my entry was somewhat higher than the recommended buy-up-to price). I can always buy more later.
So, thanks for reading my post, and I hope you don't mind if I stay and read your comments from now on, and perhaps even contribute a little bit, because you'll also be surprised to know that apart from an IPO the other day, MRD is now only the second company of which I am an actual real shareholder! I had always traded CFDs before, but as I said, I just thought it was about time to get serious (or Sirius, in the case of this thread) and physically own something.
Thanks heaps for the good ideas, opinions and especially the humour.
Cheers and good luck to all!
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