Since it's not a trading day and there's no news, I have three questions about how you are coping with this interminable wait we have found ourselves in. As of August, I will have held CUU (the bulk of my shares bought at much higher prices) for five years.
I never imagined that possibility when I got in. If somone had said I'd still be waiting for almost five years and that the price would be this depressed, I would have laughed out loud. I was overly confident.
So here are my questions:
1) How often do you think about a scenario where things actually worked according to your plan?
I know hindsight is 20/20. I know it's not healthy to cry over spilt milk. But we're human.
Probably about once a week, even if only for a minute, I shake my head as I contemplate a $4-$5 Schaft Creek buyout happening in 2011 and a tidy sum of money flowing into my trading account. But no, instead we encountered a number of delays and, even worse, a downturn in metals prices that has endured for four years, driving junior miners/explorers into the ground. So hard to believe what terrible luck and timing we've encountered.
2) If we had actually realized the quick buyout we had been hoping for, realistically, what would you have done with your abundance of new wealth?
This is why I can't beat myself up too much over CUU. In all honesty, I wouldn't have cashed out of the Venture completely, probably not much at all. I would have reinvested in other resource stocks, which is what I have been tracking most closely for several years. So, in all likelihood, instead of cursing fate with Copper Fox, I would be cursing a handful of other junior miners/explorers where I would have plunked down my money, only to watch them decline.
3) Has the experience here changed what you plan to do going forward?
Like Vette, I was once gung ho to exit CUU with huge profit and then flip that money in another gem of a penny stock. He used to talk about doing it over and over again, and I figured I could do the same.
Now, I think that was rather naive. Of course I say that in light of a prolonged drought. Not only have I had to wait here far longer than I ever envisioned but during that span I have witnessed many companies that I thought were solid prospects go down the drain, or pretty close to it.
So I'm not so sure anymore how much dabbling I will continue to do in penny stocks. If I do continue to gamble on the Venture, it will only be with a portion of my funds, not the unadvisable percentage that I sunk into CUU.
