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The Lyceum - searching for eudaimonia

Positions update

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Geez, it's been a while, so updating this is maybe moot. It's only value is probably in real time and I've been away too much and been a slack ****.

Anyway, the past month or so:

A few MAKO at $1.50 to lock in profits.

IRC @ .25.
DMM @ .35 (on top of a bunch at .55 - neither announced)
BMN @ 1.80. (looks like a bottom was formed at 1.65, will buy more on break through 2 again)
AZM @ 0.12 and 0.105. Trying to pick up some more in the 9s, if the market allows.

Current positions below:
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Updated 5th-April-2008 at 11:14 PM by kennas (spelling)



  1. mu5hu's Avatar
    Hi Kennas,

    Had a quick look at some of the stocks you bought in to.
    Say IRC, DMM and AZM. What attracts u to them? I had a look at their charts and they look like theres not much volume and less liquidity in them. and a bit flat.

    Nothing wrong it being flat since breakouts come from consolidating bits but they just don't seem very attractive to me atm. Just wanted to know your inside view of them.

    I enjoy reading your blog posts!!
  2. kennas's Avatar
    Some of the reasons are in the threads but generally:

    IRC have trillions in IGV at Julia Creek in QLD with their Moly/Vanadium project and also have 11% of RWD and a big slice of RER. I think once they can confirm JC will be economic it will go on a little run. However, if it isn't, it'll crash probably. I have my suspicions as they (and their director M Ruane) have been investing a lot in RWD and RER for some reason.

    DMM are just about to bring out an fe JORC in the Congo on their Mayoko Project. Just on part of it I believe, but should confirm their potential.

    AZM have a nice JORC at Wa-Lawra in Ghana, at good grades, that is expanding, open pit, probably low capex and opex, potential for a big find.

    But, overall, most importantly, all three are currently trading at very low prices comparatively to their peers, with market caps very low. They are all also going through a period of discovery which is when most stocks have their big run ups in prices. Once companies have their resources firmed up and go into BFS and development they usually slide.

    All very risky!!!
  3. mu5hu's Avatar
    Hey Kennas,

    Have you bought any new shares or sold any of ur existings shares?

  4. kennas's Avatar
    Hi mu5h,

    Bought more AZM @ 0.094, some STB @ 0.20, RER @ 0.05, and sold half the MOG @ 0.066 (bought at 0.14, ouch)

    I'm considering more BMN at these levels, and maybe a few more AZM if the break up from the 10c level is confirmed.

    Will endeavour to update as I go.

  5. mu5hu's Avatar
    I don't know how yo do it kennas.

    You've picked up stocks just before they moved up at least 10%..
    how do u do it?? ahaha

    ie IRC, AZM, STB

    Id be happy with 10% but you of course do much better than that.!!
  6. kennas's Avatar
    And picked up MOG before it went down 60%! eeek!

    AZM have bought at .12, .105, .094, so just a little up.

    DMM in at .60 and .35, now .50 so a bit up.

    ROY in at .26, now .22.

    Did well getting into IRC and STB before they started moving.

    So, not doing that well!!!!

    First buying MAK and MAKO at .15 and .07 respectively wasn't a bad move.


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