Tuesday 12 May 2009

My new love: African Copper

I posted on FT Alphaville, during their excellent Markets Live ( a must read for any traders surely), on Friday of my investment in a company call African Copper.

Now I had done this on the basis that the company had seen off a bid and so in the background this suggested that it must have some re-financing arranged. As I said in this post last week, I have been looking to invest in companies that are about to announce a refinance.

Beyond my wildest imagination though something happened yesterday, the company announced a large investment which will secure the financing for the foreseeable and actually allow the company to mine.

The net result, I bought at 4p on Friday and have just sold at 12p on Tuesday morning. My best ever trade by some distance. Lots of luck for a change!

Now to look for some more companies about to announce refinancing....


Simon Fawthrop said...

Well done. As Napoleon wold have said, give me lucky traders.

As an aside, I was sailing at the weekend and one of the crew was a private banker for a well known Swiss bank. He reckoned that things are improving in the various economies round the world - his reasoning was that he isn't being beaten up as much by his clients!

Electro-Kevin said...


I'm trying to start a campaign.

Demetrius said...

Up to a point, Lord Copper.

CityUnslicker said...

GS - I hope so. I have had enough of doom and gloom. Although as i go on hols shortly, I may have to sell in may and go away!

Anonymous said...

Don't stop posting such stories. I like to read blogs like that. By the way add more pics :)