|Aheads up from the International Speculator East Asia Minerals Corp (C-EAS) - In the News Int'l Speculator says sell East Asia Minerals|
2012-05-16 17:13 ET - In the News
Shares issued 110,221,582
EAS Close 2012-05-14 C$ 0.39
The International Speculator, in its April 5, 2012, issue, says sell East Asia Minerals Corp. at 35.5 cents., officially, "Closing position." The newsletter said buy on May 5, 2011, at $5.15. Assuming an investment of $1,000, the sell yields a stunning loss of $956. The writer says he hates realizing losses, but some matters are beyond the market's control. "The situation in Indonesia has gone from bad to worse," he laments. The government has made distinctly hostile moves against foreign mining companies, and the political risk in this play has hit the red line. In hindsight, he figures East Asia should have been sold in his spring cleaning last month. "We were not expecting Indonesia to go off the deep end," he says, adding the odds of a comeback are near zero. Still, even a modest bit of good news could cause the shares to jump, reducing subscriber losses. Then, trying a bit of black humour, he reckons one could always use the share certificates to wrap fish. He feels badly about this buy, so he will close his position and book the loss only after giving subscribers plenty of time to sell first. He concludes by reminding his readers that he has had one or two winners this year, like Pretium Resources Inc.