My Portfolio

Another update as I broken through the €4k barrier already.... and I'm knocking on the €5k door already. It's been a great start to my little project but I am under no illusions about how volatile this game is. Things change very quickly.

Pretty confident PCI has now hit a bottom, and will move beyond 8p over the coming weeks.

In other news, the Central Bank of Japan took another step forward in the race to currency armageddon by joining the UK with further easing. Discreet robbery of Japanese savers' cash. Sad really.

Thanks for your kind words Roger. Indeed I thought it was time for a thread like mine, and I'm happy if there's anyone out there enjoying it.

Anyway, here we go again with another update. I'm jumping over the €1k hurdles like Colin Jackson... Hopefully my shares dont metamorphize into Colin Hendry!

PCI hit 8p and stayed there. Blackrock must nearly be out by now.

HRP is continuing to rise. The next month will see them release drilling results from the Amazon, which could be very interesting. Meanwhile there's talk of them possibly sitting on 20 billion barrels of oil in Namibia, but I won't even entertain that thought as that would likely give me a higher net worth than Ian Dempsey! (€1million!).

I'm knocking on the €6k profit mark already so I hope to be back soon with another snapshot.

Roger, no particular figure in mind to be honest. My cash flow is grand so I've no need to sell up. When the market reflects the fair value of PCI assets I will take some off the table and move it to the next candidate. Basic maths clearly shows that's not even close yet!

HRP is a v long term hold. The Namibian asset is going to be massive and valued at 0 right now. Astonishing!

Well, PCI almost got me through the €7k barrier on Monday, but the FX changes due to the strengthening of the Euro just kept me below €7k.

With Brazil closed yesterday I thought there would be muted action with the Canadian listing of HRT. How wrong I was! It finished 8.56% up.

Combined with PCI almost hitting 9p with an increase of 6.87%, and Silver up over 2% it was a fantastic day for my portfolio.

The euro gave back some of its gains as the markets realise that the deal for Greece has far from solved their problems.

Oil looks very strong right now.

€7k, €8k, €9k and €10k all broken in one day! Here's the screenshot:

I actually don't think PCI is that high risk. The Algerian asset is proved up, and there's interest there for the second farm out.

The bridging loan has been repaid in full and BOC is being quoted as saying they have $75m cash.

Italy (x2) and Kurdistan are not included in the share price. Of course these could drain cash if they turn out to be failures but I don't expect that to happen.

The board bought in at 10.5p last year. I fancy we will reach that level within the month.

As far as I know there are no live prices on Zignals. All streams are delayed but maybe there's an option to pay for live streams. They dont actually work that well to be honest. Previously, with some junior miners there was no streaming, but i imagine that for most companies it works fine. I use shareprice.co.uk to track uk in realtime but Google dffer it now too.

Another good day for me yesterday. Update to follow later in the day.

Well, the good run had to end at some stage. Yesterday was the first significant losing day. I also got smashed in the face twice by a football at training so it wasn't a great day all round!

SDR and HRP both dropped, but on no news.

SDR is a penny stock and the 10% up and down days come pretty often. The volume was miserable too so no worries.

I expect HRP to fall a little further in the short term as it is trading at a premium to the Brazilian listing. There was a pretty big sell of in the afternoon in Brazil but I was happy to see it hold the $600 mark.

Other stocks with exposure to Namibia were generally down yesterday. I expect it is just profit taking as they've been on a very good run of late.

I won't post a screenshot again until I've broken through the high water mark, so I've a bit of a way to go now from the current position. However, I am still on target for a 100% return on investment in 2012.

I don't often get the chance to use the word "breached" in my everyday life but I have the chance to use it twice now so here it goes.

After a wonderful performance by PCI and HRP in the markets today with some very strong buying, I breached the high water mark and I breached the €12,000 marker!

I feel this is the beginning of a re-rating for PCI. Long overdue I might add, but it gave me a chance to add to my positions over the last 9 months or so, so I am thankful for that. I am starting to think the best time to buy into shares is when an institutional investor is selling (once you have high confidence in the firm's assets).

Blackrock have sold positions in both PCI and HRP in 2012. How much I do not know as they brought their shareholdings below the level at which the need to inform the company. IIs dumping shares on the market sometimes forces nervous sellers to get out too. Of course this can be a wise move, but when the fundamentals of the company are so sound you should see this as a wonderful opportunity to grab a bargain. I feel this is the case with both my oil explorer picks.

I am confident now as it looks like everything is rosey, but the investment world can be very cruel so what's to say Blackrock are right and I'm wrong... Only time will tell.

Here's the screen shot....

Liam, sorry to hear about your experience with Irish Life. Sadly, this kind of sh1t is not limited to Ireland.

There are so many 'experts' rolled out on TV with the goal of reassuring people that everything will be just fine, soft landing etc. I love the phrase 'ah sure they'll never let that happen' - I hear people say to me when I might mention that the dollar will be dropped as the world reserve currency within ten years, or when I said house prices were going to drop further.

Stock brokers, just like real estate agents should not be trusted. Economics analysts working at banks should be ignored. Government bodies should absolutely be ignored.

Money managers who want you to invest with them are happy to suck commissions out of you, and they (and in turn the man on the street) will tell you to stay away from precious metals.

Well, silver and gold got hammered yesterday as Ben Bernanke spoke about the US 'recovery' and therefore investors assumed no QE3 will be announced anytime soon.

It is clear that there is no recovery in the US. The numbers are cooked by the government to create a dog and pony show of improvement so that Obama can be re-elected. A polititcian's main focus is re-election. They have a reputation for lying to us, so why believe them when they say US GDP grew by an annualised rate of 3%. Before taking inflation into consideration the figure was 3.9%. If we calculate the US inflation rate as they did in the 1980s and earlier inflation is running at 9%.

The polititcions say growth of 3%, real independent analysts say contraction of up to 6%.

Anyway, it is clear that the metals were allowed rise coming up to this meeting. The big bullion banks that control the price were then able to sell the sh1t out of them in a coordinated move as Bernanke spoke. Stop losses triggered. Rince and repeat some time in the near future.

Despite the big drop in silver, my PCI and HRP shares pulled me through the 14k barrier. Motoring along nicely!

Hi Francie,

No, I am not selling PCI, HRP or silver for a while yet.

Stroud hit a 52 week low yesterday. They are not responding to my emails or phonecalls. The management appear to be ignorant and inept. They are presenting at a metals conference this weekend, so I hope to hear from fellow investors who are planning to quiz the CEO.

TBH, I will looking to get out from Stroud at some stage after the next drill results (unless they are stellar) as I have a couple of very promising companies lined up.

PCI and HRP are both seriously undervalued. I cannot see better value elsewhere. Long and strong!

Thanks for your kind words. I'm a bit of a newbie myself but I am putting a lot of time into developing my knowledge.

If you have any questions at all please post or PM.

The portfolio dropped slightly below 14k profit yesterday. Screenshot and reasons to follow after work.

Yesterday was an all round bloodbath and my shares were not immune.

I'm back down below €11k but it's not quite a true reflection on the current value.

HRP.V which is the Canadian listing for HRT Participacoes was down over 4% while the Brazil listing was basically breakeven. The Brazilian listing is the driver, and as I've seen many times since buying, the Canadian share often trades at a premium or discount, but quickly corrects. So I expect it jump back up today. The Brazilian stock exchange sold off heavily but despite this HRT was hardly down at all. The chart looks great and I expect it to continue it's rise after these last few days of taking a break.

PCI got hit bad yesterday for two reasons. 1) a market sell off because of comments coming out of Greece that they will refuse to pay lenders if they don't accept the terms of the haircut. 2) Exxon are rumoured to be considering leaving Kurdistan, in order to preserve a good relationship with the Iraqi government.

Even though the Kurdi assets are not priced in to PCI's shareprice, they sold off on this news, but GKP were of course hit much harder.

At this stage I firmly believe the market is giving a negative valuation to the Kurdistan asset. Not for long I expect.

Silver dropped some more, as did it's older brother Gold.

SDR was the only non loser on the day as zero shares were traded! Still waiting for drill results... PCI recovering today so I expect another post again tomorrow!

The screenshots are coming more regularly than I thought as volatility is quite high. Once I get above €20k profit levels I will only put up screenshots every time it goes above or below the €2k levels.

Still rangebound although Petroceltic lost around 5% yesterday.

I've spoken about my reasons for investing in commodities, namely the continuing declining value of paper currencies, whose value is determined by central bankers and politicians.

We know the US, UK, Japanese, Swiss and indirectly the Europeans are all battling to have a weak currecny to boost exports (Jap, Swiss) and keep government bonds low (US, UK, Euro). Well now you can add the Bazilians to the competition. They are trying to curb the appreciation of their currency in order to make their exports cheaper (and imports more expensive).

For example, as the euro and dollar lose value relative to the Real, Boeing and Airbus planes are more competititive than Embraer's (Brazilian) so for a country such as Singapore looking to buy, they may decide to avoid Brazil for their airplane orders. The Brazilian exporters then put pressure on the government to devalue.

The problem is, this can be a continuous tactic by governments, going round and round in a spiral staircase (downwards!), until one currency is worthless. The victims... importers and savers!

http://www.bloomberg.com/news/2012-03-12/brazil-real-weakens-on-currency-measure-slower-chinese-exports.html

I have yet to buy it, but Jim Rickards book, Currency Wars, is meant to be a great read and outlines how each government is competing to have the weakest currency.

Hopefully we see a little recovery for PCI today as I don't think the selloff was meritted yesterday. HRT drill results from the Amazon should be out this week!