PGM has risen sharply the past two days - currently @141p, but was as high as 149p this morning on opening. Drilling results and first pour soon, so we should be seeing some action one way or another in the coming few weeks. Exciting times.
This does bring me back to a point raised in the thread for purchasing our second batch of shares. We really need to get to grips with what we are going to do with this share.
In my eyes there are two things that need to be established:
- what point we want to sell enough shares to cover the cost of our original holding (£1000) and leave the rest of that purchase amount to do their thing without us experiencing any loss at all
- what exit point are we looking at for the second batch of shares, bought to try and eliminate the losses experienced from the blue chip investments that did not go according to plan? See original post quote below:
garindan wrote:So the deed is done. Details of the purchase are as follows:
Buy price: 129.4500p
Actual average price inc. commission: 130.8p
Taking the above into account....
Bluechips cost us:£1818.19
Sale funds, including accrued dividends before sale: £737.71 + £251.56 = £989.27
Deficit: £828.92 (45.6%)
Coverting this to Pure Gold Mining target sale price:
-> ~191p - if we target recouping the same percentage as lost from the original investment
-> ~276p - if we target recouping the entire monetary loss from the original investment
If we get to be where we want to be with PGM it is entirely possible any movement from the lower target to the higher target could come quickly, as is the nature of results from gold mining pours. However, we also need to consider that we have the original PGM holding. We need to discuss exactly what our targets are with this too, now we have made this second investment. A new thread will be opened to do this.
Let's see where this takes us - our bravest and boldest move yet.