RE: get5 Jul 2020 19:26
L200
No one is crucifying you because you have sold out, that’s your choice.
What most holders understandably don’t like is people who have sold out continually posting negative comments, if you’ve sold fine, but why keep posting negativity when by far the majority of people on this board are long term holders who have taken the alternative view to you and decided to hold, we all know what the risks are no one posting on here is stupid, well not now anyway, there have been one or two dubious people in the past !
As for the FID I’ve seen $225 somewhere on the company site, but have to admit having just checked the front page, that it states the FID was done with a price of $240, so at $207 we are $33 below what was expected, of course we all know we only get 80% of the APT price, but that was the case when the FID was done at $240 at which time we would have expected to receive $192 now at $207 we would expect to receive $164.20 so that’s down By $27.80 per mtu or 14.48% less, ( no where near the $65 - $70 reduction you quoted) additionally MM has on several occasions stated that our costs are on target so if they are at or close to $94 we are still making $70 per mtu even at the currently reduced price, and we are producing more tin than expected.
I understand that you obviously feel a bit peed off at having accepted a loss when you sold, but your constant negativity is a bit much at times.
As for people, in your view having no idea of the price and having invested the life savings and pension, you are guessing, in my case my investment here whilst reasonably large is circa 20% of my net wealth, it’s a lot, but even if I lose the lot I will hardly be penniless, and I know for a fact that by far the majority of large long term holders are in a similar position, what’s more none of them are stupid and all of them understand the risk reward situation of investing in a start up miner.
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