RE: Life30 Apr 2019 22:50
I’m with you.
I am severely disappointed today. I hovered over the sell button so many times post stage 1 and chickened out/talked myself into the fact that whilst it’s risky the prospects for the UK are too good for this to fail and no government would want to miss out on the opportunity for a good news story. How wrong I was, whilst funding has been secured and there will be a mine I’ve lost over 35% as I bought all the way through the rises over the past few years believing that we’d get some support from the government. Naive yes, stupid maybe, but you can’t trade on hindsight and overall I feel proud to be involved in a company that brings good jobs and future revenue to the UK. It’s just frustrating that there is pretty much no return for anyone that got in after the planning approval. A real kick in the teeth, anyone that is saying this is a good deal for current investors is blind, apart from one thing, the shares are worth something. Without finding they would be worth nothing, but your reward for supporting the mine is zero.
There will also still be bumps on the financing and no doubt in the build. There are ‘conditions’ that need to be met or the RCF can be withdrawn and there are no details on what these conditions are, but in the near term the drills keep on drilling and the concrete keeps on pouring.
After all the excitement of the past few years I think these need to be put away for 5 years and hope we have no other surprises in the meantime.
My gut is this will continue to drift overtime without strong and will only rise with positive progress being reported with project milestones being hit on time and hopefully early.
Basically for me the rollercoaster is now closed for refurbishment, come back next summer at the earliest. But my lesson is learn and next time I don’t think I’ll buy a ticket.
GLA.
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