George, I do still own shares and intend to let her run the course. They have been going over the properties for a while now and had indicated previously that they expected to have already been back in drilling, but aren't. As far as buying is concerned, I can't answer that one for you, just make a couple of suggestions.
Consider:
- how much do you have in it now and how much exposure do you want
- how much ground does the share price have to potentially lose
- how much ground does the share price have to potentially gain
- is this a play where there is likely to be a speculative run once
the drills start turning again
My input:
- can't help on the personal exposure front, that's up to you
- potential loss - the share price is down pretty low now, sure it could evaporate altogether, but that's not likely.
- potential gain - projections for Uranium are still for a significant gain in price for 1999. By all accounts they will be drilling again soon. If they hit anything close to economic type grades the upside potential is significant.
- Speculation - the market hasn't been doing a lot on the speculative side, rather it has been moving more on results. Dale on the other hand, has historically been able to generate speculative interest.
I personally will be keeping what I have, but am not likely to be adding to my portfolio. That isn't an evaluation of potential, it is an evaluation of my personal exposure to any single play.
I hope this helps some. Also, please keep in mind that although I usually stay in touch with the guys at JNR not too bad, I have not had the time recently to truly keep on top of what's happening.
Salut,
Leigh McBain |
