time to say goodbye, page-10

IMHO PIR was well overdue for a correction. By any measure this stock has outperformed any realistic expectation held in 2011. It has been my best performing stock by far, up over 250% in 12 months. I am surely tempted to take some profits here.

A year ago:
1. The company was trying to identify the resource it has at Fekoa; today it has an identified resource of 3.14m oz with a realistic target of 10m oz within a year or two.
2. The SP was 55 cents, today it is $1.80.
3. Mali was politically stable; today it has been split in two and is on the verge / in the midst of a religious a civil war. The government is currently planning to recover the northern half of it territory back from groups of islamicists; while these islamicists are planning to fly the black Islamic flag over the southern half.

PIR is now a big and growing pot in the midst of a very uncertain power-poker! This company could continue to grow into a Randgold, which has a current market cap of $8b (PIR: 0.5b) or it could become dust. Clearly this is a high risk game and I do not begrudge anyone who has made 200% in 12 months cashing in a few profits; in many ways it’s the sane and logical thing to do.

Will consider buying more if it gets back to $1.40, depending of course of the political climate in Mali.

K