Hi all, I'm new to these boards :)
I'm new to investing and bought in at 238p last week. Not too impressed with myself, firstly for missing it at 200p a few weeks ago when i could have, and then buying in before a big dip. Anyway, I'd like to hear your thoughts on it dipping again below 200p anytime soon? I'd love to sell out and get back in more cheaply...
In reality the price hasn't dipped at all. The shares were trading at 238p before they went ex- the bonus shares on 15th March. So, if you bought 1,000 shares @ 238p (£2,380 worth) last week, you should find that by the end of the month when the bonus shares are credited to your account, you will have 1,100 shares currently valued @ around 220p, i.e. £2,420 worth.
Anyone that claims to be able to tell you what the share price will do in the near-term future is a charlatan.
Why did you buy in the first place and under what circumstances will you sell? These are questions you should ask yourself (and document) when you make an investment - and review for future reference & education.
Let us know about those reasons & your thoughts and maybe you'll get some more helpful replies.
Don't expect to make money by just trading in and out speculatively, on a whim.
HTH,
Mark
Aha... I had read that the bonus shares were to be applied on the 19th. Excellent, thankyou for the info.
Was just hoping to acquire more shares than I have, basically, but I think I'll stick with what I have now. I've been attracted to MML for several months as their fundamentals seem very good. Strong management, good proven resources, large potential for resource upgrades (long term), profitable, efficient, with cash in the bank, and I'm a gold bull.
I've bought into AVM, CEY and POG, all for exposure to gold, which I predict will continue to rise. Those three, I'm going to consider selling at the end of the year ( though I foresee no reasons to do so ). MML I predict to keep rising this year and next. Hoping it can be a keeper for several years ; would only consider selling if they're hit badly by political circumstances or production increases cease.
I am a fan of this company as well. Havent checked if theyre ISA'able yet, I'm presuming they are. Intend on putting some into my 2010/2011 ISA on 6th April.
In reply to Shocker (post #2)
Hi Shocker,
Thanks for the further info on your reasoning:
Was just hoping to acquire more shares than I have, basically, but I think I'll stick with what I have now. I've been attracted to MML for several months as their fundamentals seem very good. Strong management, good proven resources, large potential for resource upgrades (long term), profitable, efficient, with cash in the bank, and I'm a gold bull.
I first came across MML around a year ago but was sceptical of their claims. However, since then they have repeatedly underpromised and overdelivered, so I've become a convert. :0) With costs held at ~US$200/oz and production climbing from a current run rate of around 100koz per year in due course, they sit on a reasonable P/E.
FWIW, I generally buy into situations like this in tranches, as it lets me get a better feel for the business as I watch it develop. I first bought at 227p late last year. Added a tranche at 219p and then waited as the price slid, due to market nerves about the PoG. I felt that the nerves/selling were overdone, given that MML is less sensitive to the PoG than most other gold miners, so added a bigger tranche @ 175p early this year. Allowing for the bonus shares, that brings my average entry price down to a rather comfortable 184p.
Always a good idea, in my experience, to keep cash on the sidelines and be patient, so you can take advantage of opportunities as and when they arise.
Best regards & happy investing :0),
Mark
