Tetlom and Lash,Yes well aware of the CAP run and what is...

Tetlom and Lash,

Yes well aware of the CAP run and what is happening there. This was another major fluke for us, when I recommended them to clients at 14c due "only" to the fact that Ramelius Resources (RMS) had signed a joint venture with them on a gold project. Needless to say the ATO doesn't care if your capital gains were a fluke. Insane JV announcement at the time and vertical they go.

From what I have seen thus far Tetlom it would appear that you are well on your way to a successful career in speculation. Devil Take The Hindmost will show you that nothing has changed (stock promoters around for hundreds of years), and the chapters on Japan which cover their property and gold club membership bubbles are eyeopeners. Having an airline stock trade at 400x earnings was also some humour and no wonder it all went pear shaped when their average blue chip PE was a mere 90x.

There is much to be said for the 12c model (not the type that eats lettuce leaves and smokes Camel). So many companies that trade at this price or thereabouts that become the mining companies of the future. They are normally run by the so-called Boffins who would struggle to promote themselves in their own company. These are the ones behind the scenes putting together these outwide geological theories that can come up trumps. IGR and Majestic as one example (not saying they are boffins!)

The real projects tend to find themselves in the right hands and you only have to look at AVO, SLR, NST and going way back to the good old days when Chris Bonwick picked up the Long Nickel Mine for $15m off WMC after he heard about it at a BBQ. From the top of my head I think they have paid $130m in tax and royalties on this project alone.

Sure quality can be boring at times, but not only do you sleep better at night, you will undergo far less reconstructions than Heidi Montag that always occur once the bubble bursts.

Cheers

Budfox