RE: I remember....8 Aug 2024 17:07
I remember when we invested in Sirius minerals. We were excited.
The same phrases were thrown around "as soon as funding is secured, there will be a rebate"
We were excited.
Then the news that the CEO had flown to Australia, the rumour mill went into overdrive -"he must be going to secure funding from Gina the Australian billionaire".
We were excited.
Oh Sirius has signed an off take deal with some Indian farming union. That sent everyone crazy supplying potash to farmers that feed over a billion people. wow.
We were excited.
Every now and again someone will post a video of the hole being dug and another ring installed. Or a video of one heavy equipment arriving onsite.
We were excited.
Then there was no news, we became anxious. The CEO attacked people posting messages on bb. We panicked. Then one morning before the markets opened we get the RNS - bankruptcy looms. The SP dropped from around 25p to 9p. (Thank God for stop losses).
We lost our appetite.
We were so scared of losing everything that when AA came in and offered 5p people sold. The CEO got a job with AA and recommended the takeover. The little guys were screwed.
We were no longer excited.
Family finances ruined.
The LSE page was closed.
The rampers all disappeared.
All that was left was you, your losses and your conscience.
No one was held accountable.
Moral of the story: Don't let the rampers deceive or intimidate you.
They will not be there when sh*t hits the fan.