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Sunday, February 25, 2007

Plexmar Resources PLE-X

As an income investor I must make a confession. I do own one junior resource stock. I own this stock as a lottery ticket.

The company is called Plexmar Resources. It trades under the symbol PLE-X. I presently own 70,000 shares. I bought it for all the following (wrong?) reasons:

1) Plexmar's property surrounds Aurelian's property in Peru. For those of you who are not familiar with Aurelian; They went from a penny stock to $30 in 2006. They were the biggest gainer on the TSX in 2006;

2) Plexmar's stock trades an average of 1 Million shares per day so its easy to get in and out of;

3) Precious metals are in a bull market.

4) The management has a reasonably good reputation.

The odds are that Plexmar will not be a home a run but I am a human being and I like to have at least one stock that I can dream about hitting a home run. If Plexmar does hit a home run,I will re-invest all the proceeds into income producing assets.

I do not recommend you invest in this stock unless its money you can afford to loose.

Once again, please perform your own due dilligence.

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