Hi Tom!
I have had ORM in the PF for about a year now and have a slight net profit, but I think the potential of the company is very good. I had actually planned to sell my PP shares this week and wait for the latest batch of seed capital shares to be released from escrow, perhaps buying them back after tax loss selling season late in December. However I wonder if alot of the weakness in trading since the last NR is due to some shorting ahead of the escrow date by insiders, who would then cover their short with the shares. I do not have up to date short position disclosure but I think it is worth it to check that before you buy. If the short position is insignificant, it may be better to hold off buying for another week or two as you may be able to get them cheaper. I have decided not to bother selling my shares now, as the rist of the stock dipping further is not worth the risk of waiting a year and then getting out just before a big move up.
Do you still hold FR? Seems to me like it is starting to stretch its legs before a big run, but maybe its all wishfull thinking on my part.
I was chatting with the prez of another mexico junior today, IPT, and he says the PP was fully subscribed at above market rates, almost all institutional money and non-brokered. I have looked into the property and its a story that will sell, and the back of the envelope economics for it look very good too. I am grabbing 30,000 shares and will see how it plays out, but I think it is worth a look. I will be writing a report on this one later this month once the PP closes.
cheers!
COACH247 |
