I dumped Medusa Mining making a 2 quid profit after trading fees. I think I might come to regret this one but I don't know anything about mining companies and bought this based purely on the fact that commodities are a good long punt from here and this company looked undervalued.
I personally think that buying a small cap miner is like buying a lottery ticket and the whole point of this experience is to make money sensibly... not gamble it!
So you won't see anymore mining / oil producing etc stocks here from me
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Mistake. This is a very safe small cap. Cost per oz about USD200. Soon will be producing 100,000 oz pa.
ReplyDeleteSituated in a very safe and stable area in the PI. Also sustantial eploration potention
Rod i think you make a very valid and fair case. My problem is purely on the gold price and estimated production levels i am making calculations. i don't know enough about the downsides / risks and the mining process to feel comfortable with this one.
ReplyDeleteGood luck with it yourself though. Have you bought in?