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Aurelian: if the market wants to panic, let it panic

Just let 'em panic, dudes. These are the moments that remind you why you keep cash on hand and it's always wise not to be fully bought in the market. Anyone out there looking at the PPS and thinking "darn...wish i had $$$ to buy at this price!!"

Preservation of capital! All important. Check the post on gold this week for more on the subject.

ADDENDUM: I just got a mail from someone long ARU (and worried)...initials PB. He said that my call to buy ARU with both hands yesterday doesn't sit with this "preservation of capital" post today.

It's fair comment, so a little more explanation. Yesterday's C$7.14 (well, the range was 7 to 7.50) was a knock-down bargain, and one of those moments that let's you buy a good stock cheaply. Today is one of those moments where you free up cash (in my case sell gold things) to get all you can.....the capital that you've preserved goes into action. A lot of the shares I've just bought (at under C$6) I'll sell back to the market in the short term...maybe a few will join the core holding. Opportunity knocks............

Remember: the worst news possible on this is 180 days of no work. ARU doesn't lose Fruta del Norte, and Correa is on record as being pro-mining (esp for the responsible miners like ARU)