Long time YN,

I have to admit, I was hoping this thing touched .08 again as I have a personal affinity to that number.

I know youve held for 5 years, but its approximately a 10 year wait between discovery and production, throw in some uncertainty in the junior markets and it only adds time.

The positives are you have a BFS, 99% of companies wont even get that far, and you get Teck paying all the bills from here, if they add new tonnes in we get some, if they go into production we get some, if Teck decides to walk we can sell our interest.

How often do you think about a scenario where things actually worked according to your plan?

Often, although this is a an extremely remote chance in the junior market.

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?

I very likely would have bought Teck shares, although I have to admit I do have a certain addiction to buying juniors....

The extra time to think about this is probably a good idea, as a former wealth advisor I can tell you first hand when people get large sums of money, they squander them. Always take your time and have a plan before you spend a dime. Once you start spending its easy to justify "another 100 here, another 1000 there" and before you know it, youve overspent a lot of money.

Has the experience here changed what you plan to do going forward?

Personally no, although I suspect theres a lot of people who learned valuable lessons here about over extending themselves on penny stocks, taking proft when its therte, listening to negative opinions (yes they do serve a purpose, close minded and overly optimistic is a almost a surefire way to get burned in the juniors), and getting all your advice off the bullboards.

Speaking of vette where is he anyways? Sure didnt pan out like he said. His word was gospel around here for a long time. This alone was a huge lesson, do your own DD and never get married to a stock.

As to your point YN, picking a junior is more about mitigating the risks on the 'good ones' then it is simply picking the 'good ones'. All profit the same you pick the stock with the least risk.

Rogue,

If it was that simple Pete...

Im sure a deal wouldve been made long ago in a hot market.

Rogue,

Options Gal is right though, this is a one off trade....

My favorite part of it was how the bids appended up to .04 and stayed there (200% over the day before), and the stock held its ground at .07.

I wouldnt be surprised to see it fall back into the .04-.05 range...but theres nothing wrong with holding that level either given where weve been.

I also think a sudden spike on no news is usually a bullish sign....TD sure was chewing through the cheap offers early in the day when this all happened, regardless of where the price ends up I still like what I saw.

Another stock I hold had this happen recently too, (BXX) went from .03 to .06 suddenly on high volume and its been holding in the .05 range. If I had to elicit a guess I would think that lots of stocks could see these symptoms shortly, sheerly because the overall selling is done in the market....we just need some more optimism, and some bullish buying. Who wants the cheapest paper....get in there boys.

Maybe someone jumping the gun buying .03 cent paper with CGE news in the wind....I agree with Berta Currys stance on the subject too. Weve known the grades are phenomenal, weve seen interest in the area from majors, and weve seen some heavy insider buying.

Anyway you cut the mustard, its great to see 350% in one day....and Im sure all of us loved that feeling once again regardless of what caused it.

Rogue,

Whats interesting to me was the gap on the sell side.....

Not a lot of paper would have to move to get this thing rolling into the double digits from what Im seeing, if the buying pressure continues I would think this to be a very positive thing for this stock.

Regardless, even though not a lot of paper moved at .09, its very refreshing to see after the last 26 months. I dont care if its a one off or not, I dont care if its indicative of news, Im just stoked to see a 7 cent run on ANY of my stocks in a day.

I think these finally optimism starting to shine through on the Venture.

Rogue,

Itd be interesting to see where we fit in here...

Debt aside, FMG has the goods.....factual....still love the grades.......

Bonanza!

Worth a few pennies in my eyes for sure.....same deal as a value bet in poker....

I think the markets been turning for quite some time.....but its taking a considerable chunk of while the old engine gets kick started.....

Better days ahead.....I still think when this market comes back its going to be a loud roar....

Rogue,

Respectfully Jay, were going to have to agree to disagree.

I never said management was amazing or flawless....although there was a time on this board about a year ago I believe that was the common perception. Alls I said was I believe theyre being unfairly held to the fire.

Remember some of the realities of CUU.

1 guy owns 55%. As long as hes happy....management IS fulfulling their obligations to their shareholders for all purposes. Management as a whole owns 2/3rds of the company....as I mentioned in a post a ways back.....they know they cant be outvoted. Shareholders can say whatever they want, and theyre entitled to their opinions, but its not going to change the reality that its only a small secular group that controls most of the shares here....and you better believe that will change the nature of how things are done.

These things function a lot like a democracy.....majority wins. It may not be the nicest of feelings to know that effectively your votes dont count...but it is the reality. They dont need to exceed shareholders expectations, they just have a fiduciary obligation to act in their best interests.

As far as not sticking to the 120 day time frame etc.....I believe that its fairly well known that the Salazar agreement was old, a bit outdated and not exactly clear at times, although the 120 day part was pretty clear I will admit.

However Im sure on some or all of it, the last thing they wanted to do was get into a legal battle with Teck. That would have added years to the story, and most assuredly tanked the price.

Theres that old line about a 600lb gorilla sitting wherever he wants....

Its in no ones interests to fight a legal battle for years and spend a ton of money and then potentially have the chance of losing.

2.5 years ago management could do no wrong, and now the story didnt panned out as hoped, and people are picking them apart. Given management owns 67% of this....can anyone give me one valid reason they didnt want the price to be higher?

Acting in their best interests IS acting in the shareholders best interest when it comes to value.

Talking to a shareholder out there for an hour may seem excessive but theres companys that dont talk to shareholders either.

Just the way I see it, not trying to be adversarial but the way it panned out was in the cards all along. We crafted the notion of a buyout, it wasnt anywhere in the legal scope of things....the 25% was all along. Then somehow we got the 4 year clause which I see no one has ever produced a piece of paper regarding.

No one wants to wait anymore...I get that....but mining takes a long time. A looong time, and I think a lot of the damage done here was the contrast made from unrealistic expectations to the reality of the situation.

I enjoy your posts Jay, I find them well thought out and insightful, I dont mean to be adversarial if thats how you take this post, I guess we just see things different here....but at least we both see that the value hasnt gone anywhere.

Its never truly a loss until you sell.....the markets will get better, and I think commodity prices are going to start to move up here as well. It may not be what people want to hear, but about all that can be done now is wait.

Rogue,