""Bolics turns out it was a ripper after all!! ""
Unfortunately on the day of the announcement, too many people were focussing on the acquisition and placement price of 3.1c. I guess that's the reason 12 million were dumped around 5c.
The smart people were filling up their boots.
What it provided was a wonderful opportunity to get set and tuck them away for the next 12 months. I am not in it for the quick trade. I had already bought around the 4c mark and had been waiting patiently to see what the company could deliver. But as I posted on the day of the announcement I was happy buying more at 5c when others were complaining about the 3.1c placement.
Remember 15 million dollars has been already spent getting us to this point. 15 million dollars that we don't have to spend in the future. That's pretty good from where I am sitting.
I will now hold tight and see what comes of this latest investment. I will give it 12 months and then decide whether it warrants a longer term hold.
As I posted yesterday this is a growth story in a growing industry. And more importantly the company is being run by people with a proven track record of success. That is worth it's weight in gold. You can have the greatest story, but if you don't have the right people with the expertise to drive the bus it can be a hard slog.
I am not concerned with daily fluctuations in the share price. The big money will be made for those who are prepared to buy and hold for the next 6 to 12 months.
Good luck to those who come along for the ride.
Cheers.
NRR Price at posting:
6.5¢ Sentiment: Hold Disclosure: Held
