Positions update 28 June
by, 28th-June-2008 at 04:12 AM (3296 Views)
Sold all IRC to lock in profits and get back some cash.
Bought more DMM on correction. Way undervalued for potential. Market doesn't like it yet for some reason. Perhaps drilling and potential upgrade to 100Mt DSO will provide the catalyst. Holding and hoping..
STB correcting. Disappointing. They need to start moving on their projects or they'll be a has been.
Holding MAK long term. Unless RP crashes, long term fundamentals compelling. Will reassess after June to see if I take some profits, or just ride it out.
LGL and NCM may be recovering with POG and being oversold.
Taken no profits on AZM, I think with further drilling results and initial JORC at Bepkong it will keep moving to a fairer value closer to 40c (on 1m oz confirmation). In the meantime, expect some natural consolidation, has moved a bit quick.
BFE will move once it starts to get publicised I think. Flying under the radar.
MLM having second thoughts about. I'm in it for the floats of Metrocoal and Cape Alumina, but I might as well just go through the public float. Doesn't seem that they are going to give a discount or much of an allocation to existing holders. Still undervalued, but the money may be better allocated elsewhere in the time being. Especially with it been held back under 60c...
KMN being rerated as it should be. Way undervalued on an MC to oz au equiv under $10. Rediculous. May take the opportunity to add more if uptrend confirmed.
BMN significant break up. Would buy more if I didn't want to be in more cash...
Not sure what to sell to get back into more cash. Maybe some LGL and NCM on any spike up. Or, a few AZM to lock in profits, or MAK after June...
Need to find a better balance in the portfolio with the most potential/undervalued and cash..
Watching CGG, I think it's a long term great asset, but not in my small cap criteria.
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