Your statement 'Lots of people got the inside run on SIR when it was a penny dreadful' is a big call, and it is absolutely wrong.
SIR traded very little and the share price had no spikes in either volume or share price until the trading halt was called.
Went up about 720% on the day after the announcement of the 4m strike and continued its run after the 15m hit, from memory.
Anyway, the point is that those who understood what the initial strike meant, that basically it would be the tip of an iceberg, were the ones buying in initially. Others were taking small profits and/or watching from the sidelines shaking their heads and calling it a pump and dump.
SIR management looked after the corporate aspects perfectly, raising only as needed and at ever higher prices.
It has been a textbook example.
I must admit though, at these prices I have been thinking of cashing in my chips. The big end of town own SIR now, and if Creasey's stake was to be sold the games would begin and the share price would be a reflection of these games rather than of the fundamentals of the company.
In lieu of another Ni discovery and/or continued success with the gold, SIR seems pretty fully priced to me. And the volatility in the share price recently tends to suggest that these games have already started.
Oh well. Decisions decisions. Procrastination has been my greatest ally on this one so far......
Milesy
IGO Price at posting:
$5.85 Sentiment: None Disclosure: Not Held
SIR Price at posting:
$3.24 Sentiment: Buy Disclosure: Held
