Two good days early last week saw the value of my portfolio recover almost 2% to £96,518 last Wednesday, but those gains have been erased again this week with the portfolio down 1.6% week on week to £94,965 today.

In the past week the key losses have been:

• Lonmin – now trading ex rights. The combined value of my shares and rights stands at £248 against an investment of £1,000 – a 75% loss over less than 10 days is a stark reminder that a share which falls 99% is a share which has fallen by 98% and then halved. I have elected to follow my rights (as was my plan when I bought the shares) but I can’t help feeling I may be throwing good money after bad so I may yet reconsider;
• Anglo American – down a further 6% in the past week
• BHP Billiton – down another 3%

There have been some brighter spots though, namely:

• ETFS Palladium Physical (PHPD) – up 4% in the past week
• Fresnillo – also up 4% in the past week