George, while I am a shareholder in MGJ my following comments are meant to be generally illustrative, only.
I started posted on PFG in May of 1996. It was like trying to interest people in time sharing property in Sarajevo, for quite some time. Now, bear in mind that at the time BHP had already conducted two major drilling programs that indicated widespread mineralization. PFG had concluded at U$10M JV with Barrick who was actively drilling their property.
Still, not many people took notice until after the price had run up quite a bit.
My point is that it taught me a lesson about the markets. Since 99% of the companies in this sector flop, the "Market" has learned (appropriately, most of the time) to take a jaundiced eye.
In fact, I have recently learned from some new friends that many brokerage firms will not touch a stock until it is trading for C$5.00+ and has some solid results under it's belt first. They would rather pay the extra premium than assume the high risks involved with all the promotional hype that characterizes this sector.
It has also taught me that the importance of doing your own due diligence with a thoroughness that approaches fanaticism. Then you just have to wait to take your position just before the real action starts, but not so late as to have the price rise too high.
The result is that many times you have to choose between getting in a little early to get the stock at the price that you like, or pay that extra premium for having your capital parked elsewhere.
It all boils down to faith, due diligence, good timing and a hell of a lot of luck!
The only reason I am sharing this with you, George, is that I am a fellow shareholder who has experienced the same agonizing frustration that you reflect. Believe me, George, I empathize with you. We probably all do.
I sincerely hope that you find some benefit in this post.
Good fortune to you in all your ventures, George.
Regards,
JED |
