Still in and long. All I have on the line is play money, and in view of that, I still feel the risk is worthwhile.
Not that it matters, but I would not recommend anyone stick around who cannot afford to lose everything they have invested here. Things look very grim, and sometimes it is better to eat your loss, admit a misstep, and find better opportunities. It can be incredibly releasing, if you are stressed out over the investment. This is what I attempted a few weeks back. Needless to say, not everything worked out to my expectations with my other investments, but it is still early. On top of that, it was certainly better than watching a decently sized investment cut in half over the course of a few weeks.
The music has not stopped. We still have KC, and there is the extremely unlikely off-chance that something will come out of the shallow drilling at TPW. At least, that is my perspective, FWIW.
I am still bullish on stocks in general. On top of that, we have discussed supply and demand figures for the precious metals industry, and I am still bullish on precious metals. I may eat that last statement, but I am prepared to do so without much of a financial sweat, if need be. I have a hard time believing this is the end of the precious metals market. I have a sneaking suspicion we will be back up to January levels by the end of the year. If China suddenly announces to the world they have been buying massive quantities of gold over the last few years, I anticipate that will be a game changer. Time will tell.
Now is the time when most people will bail out of the industry. Unfortunately, that is usually a necessary step before things begin to turn around. It is hard to say what will happen to Explor, but if the precious metals market does take off in a substantial way again (seems unlikely in the next few months), it could cause the share price to rise. In two months, Dec. 1979 - Jan. 1980, gold practically doubled in price. Of course, it did not stay elevated for very long, but the point is that much can happen in a very short time frame.
All the money we spent buying up properties might have stretched us out for another drill run or two, but it is too late to take that back. We have to see what this last push will provide, and perhaps, we will have one more, at a terrible detriment to the share price.
