I finally bought into AGM on Friday. My entry price was $1.04, which my husband thought it was too high. He's probably right, but I've been kicking myself everyday, watching this stock soaring high before my very eyes..
I put a buy order for AGM a few weeks back at $0.74 (market price was $0.745 at the time). It was so unwise of me, keep hoping that the price would go down to fill my order. That order, of course, never be filled, as the price keeps going up and never bother to look back.
This morning, AGM rose around 4%, so I hope I made a good decision.
With it's nickel project, AGM reminds me of Sally Malay Mining Co. (SMY). I missed SMY run.
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Allegiance Mining is an emerging Australian nickel mining company that is about to commission its first nickel project located in Tasmania. Its Avebury nickel mine is due to start production in 4Q-07 and the company has an on-going exploration effort targeting nickel sulphide deposits.
Allegiance Mining has made a significant nickel sulphide discovery at Avebury located 8km west of Zeehan on Tasmania's mineral rich West Coast. The mineralisation is essentially remobilised pentlandite and is of simple metallurgy, producing the world's highest grade nickel sulphide concentrate.
2 comments:
Hi.
Its been over 2 months since you bought in...Did you ave a stop loss in place?
The share has fallen considerably since you bought in (as low as $0.675) although at last it looks like it may be making a bit of a recovery.
Still a great share but will be slow to recover to your purchase price- perhaps by Xmas time?
I have held this share since early 2000 so its a long term share for me. I have added to my original holding; the lowest cost per share was 3.2c. But I did buy a few more recently at 0.79 as they are a bargain at the moment.
Good Luck! If you still have these shares you just need to hold on. They will do well for you in the longer term.
Hi Ghosta,
I sold AGM at $0.88
I agree with you that it's an excellent company, a pity that its sp went down considerably. I am still watching it for a chance to get in again. Seems that it's gaining it's ground again recently, which is good news!!
unfortunately, I didn't have the gut to buy it back when it was in its 50s, although I did put a buy order after that at 60s (which was unfilled..)
Good luck Ghosta, and thanks for dropping by!!
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