Reality check. - one perspective.
in response to
by
posted on
Nov 10, 2007 07:14PM
Jelico, it will be very interesting to see the reaction of the market on Monday. I have been long this stock for over 15 years, and have accumulated a tidy sum of shares over that period.
I recall a time, many years ago, that Ontex hit approximately $1.10. This was, if I recall, right around the time of their successful litigation with Metalore. I had a much smaller position, but did not sell a single share.
Reason was simple. Even with gold then trading around $300, I knew that the price would rise with time, and there were proven resources on the property to be mined. I believe at the time there was a float of around 40-50 million shares.
I then saw the share price drift down to trade at under a dime, off and on. This was my period of accumulation as I strongly believed in the property and the historic proven gold reserves.
I still believe in this property. I am trying to believe in the Management.
I will weather any short term volatility given this latest development, if there happens to be, as you say, some "jonny come latelys" selling off their shares.
I will not sell a single share.
Let's see a mine on this property sooner rather than later!
LONG and STRONG
crazydik