was that at anyone ? i'm not a pip trader but a position taker....

was that at anyone ?

i'm not a pip trader but a position taker. I build positions in medium-long term plays (mostly as i'm still a salary man and try to remove the "gambling" factor of trading). I buy incrementally and watch the story evolve and evaluate my holdings as evidence changes.

why PXX? I have built a stock evaluation model that covers off what i consider to be core evaluation points; shares on issue, shares held by insiders, management history, sector, milestone price catalysts, cash burn/financials, project upside/downside and a bunch of other really tedious stuff like market liquidity, trading history, company plan B's and C's, peer comparisons. its a fair bit of work and while it seems silly, it gets me scratching at the surface digging through ann's and putting all aspects of the company in focus and builds a pretty comprehensive understanding. Its saved me a few times from pump and dumps as some massive red flags flew up (too many red flags = not my money).

any way after running the ruler over it, I'm impressed with the sector (specifically copper) and the region/regions current projects. The managements background is sound and the salaries aren't stupid. most of the shares are held by insiders and i get the sense that retailers are just along for the ride rather than a genuine need for their cash over the long term. the drills and the indications look very promising to me and i'm happy to wager that these lads are getting very warm in finding a monster. the initial indicated JORC provided a level of certainty to some extent, while i also understand that there is always risk involved and it could all disappear tomorrow.

So by in large, the company side of things is sound and the project has multiple price catalyst that should insulate me in the short term to then stick it in the bottom draw for a few years and not lose any sleep . whats not to like