I want to share with all Ausquest holders why I am accumulating them and have not sold a single share since I first came across them about 3 years ago.
My rough background is that I am a Formwork Carpenter that has spent most of the last 20 years out bush both as a local and FIFO worker in the construction, mining and LNG industries.
I first started trading in 1998. I spent several years making mistakes and lost a lot of money. I now make good money buying and selling shares as an amateur private investor.
A few years ago I was helping to build a power station in the Pilbara, WA, and I met a driller that had been drilling all over the world for 35 years. I must have met a thousand drillers over the years. Some of them have made me money and some of them have cost me money. I have learn't to listen, then do my own research.
I have done a lot of travelling around the world and done many things in my life. This driller is one of the most honest and remarkable people i've ever had the pleasure of being around in my 44 years on the planet. And after doing a bit of research, I found that he was one of the most highly regarded drillers in the world.
One day, over a beer, we were talking about small and micro caps. He said to me, 'if you wanna throw some coin in the direction of a micro cap, throw it at Ausquest'. Long story short, he spoke about Graeme Drew. He described him as being, 'one of the last true explorers'. He said he rates Graeme alongside Creasy and Bennet (SIR). He said that Graeme is not the type to sit in a cafe in collins street sipping on latte's and chewing on croissants. He is a go getter, and if there's anything to be found on his tenements, he's more likely to find it than the plethora of monkeys and pretenders out there. He said that Graeme is not interested in 'rock chip samples' to get the AQD share price moving for a while. He just goes out and gets things done.
For a man of this drillers calibre to speak about Graeme like that, of course, had me excited. Since that time I have spoken to Graeme many times and I hold him in very high regard myself. He is a great human and he is extremely well regarded in the global mining industry.
Now, as an amateur investor looking at companies to invest in, for me it's not all that indifferent to Work Health and Safety. It's about de-resking as much as is possible. Cash, geo-political risk, vulnerability to flood, cyclones in the wet season, location etc, but for me the most exciting companies are the ones with an awesome skipper at the helm. Graeme is that man and has the financial backing of Christoper Ellis, an enormously successful businessman himself.
So now, after Graeme successfully negotiated incredible deals in an extremely difficult environment in terms of funding and JV's go, we are drilling in Peru. For those of you that are not already aware, Peru is one of the most mining friendly countries in the developing world and it is also one of the most mineral rich. Peru is a proven copper province with low political risk. And the last time I looked at it, Peru had an unemployment rate of less than half that of Oz.
When I read in this thread the other day that Graeme jumped on a plane to Peru to oversee drilling activities I was stoked. If things aren't going the way that he thinks they should, he just gets things done. We couldn't be in better hands.
We are drilling very soon, and the share price is going to start to run. The low volumes we've been seeing are not necessarily the be all and end all of Ausquest. Me and my mates don't trade them. We buy them because we believe that Graeme Drew gives us one of the best chances in the game, to make an absolute fortune. Ausquest in our opinion, is one of the most undervalued companies on the ASX. And we believe that is likely to change in the very near future.
Go Graeme Drew.
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