Chanape was a real adventure - did not have a pot of gold at the...

Chanape was a real adventure - did not have a pot of gold at the end, but still was great hunting.

Lesson 1 - always have a diversified portfolio because you can never predict what will happen. By diversified I DO NOT mean some banks, some blue chips and some 'dope float' (Ross's term). Rather choose a number of stocks which are in a category which you understand well, and have done much research on eg porphyry-skarns or IOCG or Li or 'other battery metals' or 'deep undercover exploration' like in the Patterson Range area or south of Cloncurry, or Grawler Craton or right here in R and C. Here endeth the first Lesson.

Chanape was in Peru and high in the Andes, all the soils and samples screamed porphyry, Ross is reported at the recent Perth Workshop to have said one of the high points of his career was looking at the core of the first diamond hole we stuck into that mountain. So we were all on a high, but no later hole had the same mineralisation. Finally Ross brought in Sillitoe (the world acclaimed No 1 on porphyries) and he said the porphyry was there, but deep (like, run an adit into the base of the mountain and start the drilling again from there) Hole 1 had been a lucky hit on a breccia pipe which emanated from a porphyry.

Lesson 2 - Always - that's always, right?- trade on a high. Quell your greed and cover your a. If you were doing your constant research and came across Chanape pre drilling you would have bought at a low, then by selling a third at the spike you are free carried - of course you would have passed your stock on to someone else, and if there is bad luck he takes the falls, but the guy who did the good DD wins. End of Lesson two.

So Chanape had to be abandoned - it owes me about $16k but it would have been much more if I did not watch the chart and make some moves. But the team picked itself up, the share holders had confidence in them and the current zinc play was acquired.

Lesson 3. Persistence.

Good luck to Al and the AA.