Hi Everyone,
I thought I would do another update on the parcel of Kentor shares I am holding my my "trading account". Obviously I had expected news on Andash by now but the share price seems to be holding up okay and as I result I have not sold any of the shares.
As I previously mentioned I am happy to hold the shares until Andash approval because I do believe Kentor will get the go ahead. In the meantime, if the share price was to go to 14 cents I would take profits and try and re-enter a cent or two lower if possible. Obviously I run the risk of missing out on the news but a circa 30% gain is decent in itself. It would also give me the opportunity to trade KGL again, thus maximising my profit potential.
Complicating the matter is however the fact that Kentor Gold is consolidating the registry (1 for 10). I would have preferred to have exited my trading position prior to this in case there is any weakness when we re-open. As a result I will be monitoring the action closely over the next few days. I don't believe there will be enough weakness to force me to sell my trading stake, but it is something that I think I need to monitor, just in case.
There are of course benefits to consolidation, such as more institutions being able to join the register and other private investors becoming more interested in a stock with a $ sign in front of it. Either way it should be an interesting period for Kentor Gold and hopefully news is forthcoming in the very near term.
Finally, The chart continues to remain in fairly good shape so there is no reason to loose any sleep in this area just yet, especially well I am still sitting on a paper profit of circa 15%.
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