The Australian Stock Exchange (ASX) has had a very busy six months, especially in the mineral exploration industry.
There are many stories of share price movements that are in 500% to 1000% range. In fact, it is no longer news to hear of such gains.
It is this very reason that I have been telling readers and viewers to be cautious and to seek an understanding of fundamentals rather than the corporate factors of who is in which stock.
Wise words from the ‘Nickel Man’
Terry Streeter is a man with many decades of experience in the industry and many know him for his involvement in Jubilee Mines and Western Areas, which are nickel discoveries.
His involvement in these two stories has given him all the notoriety as the ‘Nickel Man’. There are many winners and losers in every story, but I love the perseverance of men like Mr Streeter.
Terry shares with us why you should stick to the fundamentals and the story:
Look for good management teams and good strong stories that will give you the confidence to believe. Don't worry about the negative news. Don't let a few bad drilling programs or a downturn in commodity pricing deter you from believing the story.
It was indeed a great opportunity to listen to someone who has seen the market from his first investment in the late 1960s until today.
At this time, he still believes that it takes time for the projects to mature and there is nothing real about an instant discovery in the mineral exploration industry.
About Terry Streeter
Extensive experience in funding, listing and overseeing junior explorers in all exploration and economic cycles and has served in various roles in the nickel sulphide industry for over 30 years.
He is a previous director of Jubilee Mines and non-executive director of Western Areas and Fox Resources and is non-executive chairman of Moho Resources Ltd (ASX:MOH) and also has additional mining interests.
About Moho Resources
They have three projects - Empress Springs in Queensland, Burracopin and Silver Swan North in Western Australia.
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