Way back last September we ran “Ascot Mining and Bargepoles” as a warning against taking a position in German listed Ascot Mining (AM3.f) (ASMP.l), a view backed up by a London-based expert, Minesite’s Charles Wyatt (see link). So let’s see how it’s been getting on since then:
And funny to remember how I had this miffed shareholder mailing me after that September note, telling me how wrong both Wyatt and I were about the stock, telling me about the ‘significant developments’ in the stock, offering me special one-on-one chats with Ascot’s CEO…all sorts of stuff. I suppose it’s now mere detail that the guy who introduced himself as a shareholder turned out to be in charge of Ascot Mining’s investor relations…..
Moral of the story: There are no shortcuts for retail shareholder when making money in the markets. Read Mark Twain on gold mining for more details and DYODD, dude.