If my old solid shares in my portfolio drop a bit more, I may look to pick up again. For me thats not going to be Palamin LOL, but rather a bit of SPP, DST and BTI. But am going to watch and wait a bit.
They have 2 expansion projects - The western exp. project which adds a few years.; AND the LIFT ii project which is pretty massive and involves establishing a new mine under the current mine utilising much of the current infrastructure (and effectively extends life by mine by 18 years (if I recall)). So that is 26 years. Problem is that LIFT ii was projected to cost 3,5 billion 6 or so years ago. Probably 3x that now. So copper needs to remain pretty buoyant. Anyway - it would no doubt involve a massive hedge position (much like ther last one.)
for the record .. I bought 3 stocks on Monday; BIL and KIO coz they were massively cheap which would have protected downside (to a degree) .. and SBK, not massively cheap but I like them and at 9100(ish) I figured cheap enough for me ..
I like SOl and consier it a corner stone of a portfolio .. but didn;t buy on Monday as it wasn't screaming cheap .. an tot he larer point, yes my buys (well BIL & KIO) looking wauy smart right now .. but in a week or two they could be looking a lot less smart .. thing is I bought at what I consider way cheap and bought for long term so happy regardless ..
I am wanting tos sell the gold to buy BHP...as to the talk of cheap..Skaap..in the hayday of Warren buffets day... information was scares and mispricing happened as a result.. these days.. mispricing happens because of gearing and index related exposures... so one should not be looking at old measures of value but rather be looking to trade the short covering rallies created by the highly geared drops like we have just seen..IMO