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I'm satisfied with the first three days' trading. Share & option prices have moved gradually ahead, and we're now 22.5% in profit from original investment.

Although I had hoped for an opening sp of around 25c, I understood upon applying for shares in the float that any significant increase in the sp would be dependent on the results of the gold drilling.

The reason I applied was because I believed that there is both quantity and high grade quality of gold at Peak Hill - not to get a stag profit on day 1. They have drilled twice what they had planned - which to me is for obvious reason - they have hit something very very good.

Furthermore, if they have a minimum of 400,000 tonnes at high grades (and I reckon they may have found considerably more than that), they will then be in a position to consider a plant - probably nearby Gleneagle's will be going at a good price.

What do you think that will do to the share price? IMO, it will be multiples of what it is now - before month's end. (Uranium assets will be a bonus not-too-far-away either.)

I can't understand why people are debating whether a 13% stag profit is good or not - when the reason I entered the float was because I believed they had gold, and when it was announced, that belief would be justified. So, why would I be selling on day 1 to get a stag profit.

Obviously, there were many people who had contrary views, who having bought their 10000 shares and options sold them - without waiting for the gold drilling results announcement. As I said, it just doesn't make sense to me that they entered the float in the first place - if they were going to do that.

Is it true that so many people just enter floats solely to make money on day 1? And am I in the minority by buying into a float because I believe the company has good (potential) assets?