This has been a glorious ride up and I am a happy shareholder on this investment. Puts a lot of other investments to shame and I wonder why I bothered averaging down on so many falling stocks instead of averaging up on this one (I did buy more at 70 cents). Alas all better said given hindsight. I think there are other opportunities like SBM in the smaller sector of the gold stocks... and one in particular had a magnificent break-out today.
At the end of the day I see SBM continuing to rise and I won't be selling until this goes back to peaks reached in 2008-2010, and even then I'll hold onto many shares as this will most likely be a solid dividend yielding stock. I am glad I took the decision to invest in goldies, while it's been tough due to some investments in the red I think with the turning tide... the turmoil in markets all over, gold will rise as it naturally does being a safe-haven asset.
As for the why? This is a true turnaround story where management have been able to resolve some critical issues and reduced operating costs to bring about significant cash generation and profit.
GLTAH and whoever is already in and staying on for the ride well done .
Cheers!
SBM Price at posting:
94.0¢ Sentiment: Hold Disclosure: Held