checkmate28- gowest and auriga
It is humorous how the one's you believe in the most, break your heart. I'm not sure why that is yet; what I am doing wrong as far as valuation or investor sentiment but explorers are hard to hit the nail on the head. I think most of it is timing the big moves when everyone is jumping in.
The deal with Auriga to me is that there is still uncertainty and that is why I have been buying because in my mind, I believe the odds of a fast start open pit are at least 70% to 30% especially given drill results and gold prices and an updated resource that should approach 750,000 ounces. The fast start open pit is what I am betting the house on. But most investors now don't want to take risk- it is risk off time (low prices) and so if I am right, I will make a lot of money as I think 5x the current market cap will be easily achievable in 2 years.
The management runs another mining company (base metals) that is in production so they know the drill.
That said, there are a million things that can go wrong to derail my best laid plan and if only one goes wrong, then I could be screwed. If that were to happen, this will be the last big concentrated bet I make and go back to the "basket" approach. I suppose I am a gambler at heart and think I have found a diamond in the rough ( which I have on more than one occasion).
Maybe in this case the market is correct and the current valuation is proper, we'll just have to see.
That said, I almost bought a bunch more today, but I controlled myself. I even thought about buying enough shares to get a position on the board- my long time fantasy. It's a difficult job being a prospector of miners.
Is there a miner's anonymous? A 10 step program? Get that mining monkey off your back? LOL
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