RE: 12p & continued selling1 Dec 2023 08:06
I'd say that, usually, appraches for buyouts are rns'd, even if totally rejected, as it gives a third party estimation of value. obviously, one wouldn't want it announced if the offer was for 5pps but hearing about it in an interview doesn't really legitimise it.
not suggesting it didn't happen but too many details of the companies progress are meely tweets or interview points that carry no real weight.
we have an offtake agreement but (and rare for CRTM) no pics of that actual delivery when previously we've had pics of all manner of incidentals, including pics of 'the kind of trucks that would use the new road!).
there is zero virtue in having held throughout 2023 and watching 65-70% loss of value in the share.
of course, at this level, there's zero point in selling but the rhetoric of holding until... has been very wayward, possibly because of suggested timelines that have drifted horribly. i can only assume that holder felt that news was 'imminent' throughout 2023 otherwise what would have been the point of holding?
expectations in 2023 have held retailers in such reverence that they've have seriously suffered and yet still the mantra of 'great post' for ignoring the past year's performance continues. the lack of reality of the current state has been ridiculous, with holders repeating endless joy at 'what will be' instead of discussing what is.
as i said, little point in selling now, esp. as i suspect 80% of holders aren ow in the red and, as it's 'merely' an horrendous delay in market belief in the true value of the assets, most folk must now be looking for at least a 50% rise to recover their losses. but a bit of reality in discussion groups wouldn't have gone amiss.
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