Minimal company insight on this post. More so just to get my thoughts down on paper.
Recent SP increase on MEK has now pushed my IRL returns above 100% and SW position around 90%.
Initial thesis was to hold through to production and commencement of revenue to then reassess however the SP increase has been well ahead of expectation’s.
Actions for consideration now are:
- Do nothing. Continue with the thesis and accept there will likely be some ups and downs.
- Sell down profits for reinvestment and maintain a smaller allocation
- Sell it all and move on. Perhaps returning once they are in the swing of mining.
Current headspace for this weekends thinking is:
Point 1 is being mostly driven by the punting / too the moon headspace.
Point 2 is likely the option that provides the best outcome as both up and down sides are rescued.
Point 3 is sitting there based on really wondering how much higher can this price go. They could loose some of the gold SP frothiness and still be a well run company just at a lower price point.
TBH the more I write this the more now I’m even looking at Point 3 as the better long term pick.
Enjoy your weekend SM team while I continue to think on this.
