Just wanted to alert you that yes, I as I noted last week, I did end up selling a third of my Africa Oil (AOI.V AOIFF) shares — after the run up, selling a third of my position was enough to pull my initial investment off the table and let the rest ride. That lets me take a little bit of the risk out of my portfolio, without making me miss out on what I still expect to be solid long-term performance from Africa Oil as their drilling campaigns continue. Barring huge news I’ll hold my remaining shares, and at current prices the stock is still one of my top few holdings.
I also should let you know that my long-term plan to rebuild my holdings in Sandstorm Metals and Energy (SND.V STTYF) is continuing with a limit buy order that had been on the table for a long time, that buy finally hit today (I took tax losses in that one last year, but still think the company is a good diversified commodities play, particularly on coal, over the next five years). Current valuation leaves pretty limited downside, in my opinion, given their large cash position and their guarantees from partners, though they’ve clearly taken a hit with the failure of one of their coal streamers. Not expecting great things to come this year, but at this price I’m happy to build the position for the future.