October Monthly Update

October was certainly an improvement on last month (September) which saw the portfolio down over 8% largely due to falls in MHM. As you will see from the tables below we recovered from those falls, and some, along with the broader market.

The improved sentiment and performance is not 100% company specific, with the news out of the US and Euro still having a major impact on global markets. That is not to say that none of the companies moved forward or made achievements. Reviewing each of their operations I think the clear winner in that regard is OBJ who announced that they have commenced negotiating a Joint Development Agreement with one of their partners. This certainly propelled the share price in the latter weeks of October.

Reviewing the ASX 200 and Small Ord’s shows that they were both up by more than 7%. The small Ord’s only outperformed by a very small margin which highlights that the confidence in global economies and stock markets is still not at a level high enough to sustain a longer term bull run. Hopefully this improves throughout November.

Market:	Close September	Close October	Percentage Change:
XJO	4008	4298	7.24%
XSO	2233	2407	7.79%

In regard to my investments we can see that the portfolio increased in value by 9.78% (outperforming the market by over 2%). The best performer was OBJ which was up 37.50%, followed by MHM at 28.70%. I have included KGL #2 as this was a recent purchase (last week) and I have therefore taken the increase from the purchase price of 0.093, rather than the price at the end of September.

Code:	Weighting:	Share Price End of September	Share Price End of October	Percentage Change:	Weighted Change:
OBJ	18.44%	0.016	0.022	37.50%	6.91%
MHM	6.21%	0.575	0.740	28.70%	1.78%
KGL	11.46%	0.094	0.099	5.32%	0.61%
KGL #2	7.28%	0.093	0.099	6.45%	0.47%
Cash	56.61%			0%	0.00%
TOTAL				25.989%	9.78%

Removing cash from the equation further underscores the strength in some of these moves:

Code:	Weighting:	Share Price End of September	Share Price End of October	Percentage Change:	Weighted Change:
OBJ	42.49%	0.016	0.022	37.50%	15.94%
MHM	14.31%	0.575	0.740	28.70%	4.11%
KGL	26.42%	0.094	0.099	5.32%	1.41%
KGL #2	16.77%	0.093	0.097	4.30%	0.72%
TOTAL					21.45%

In addition it is positive to see that OBJ is pretty much back to my average purchase price which lies at a fraction between 0.022 and 0.02. KGL is also 0.002cents above my average purchase price. However MHM continues to remain under water at 0.74 cents, compared my purchase price of $1.195.

I still have another post to make on Kentor Gold’s Quarterly Report, but I won’t flood you guys with all these posts today and will leave that one for tomorrow. Here’s hoping November is another cracking month!