RE: BOD7 Jan 2020 16:55
"To be fair people are not posting to get the SP down"
I'm not sure about that, there has been for sure some disgruntled investors(?) and some panic sellers but there's also been some with a definite agenda imho.
I caned LR in two emails way back when they made those disastrous errors around the scoping study and the raise and he never responded to me, I don't think I was rude but I didn't pull any punches and gave it to him with both barrels coz quite frankly he deserved it for that fiasco BUT at the end of the day I'm man enough to own my own mistakes too. I invested at a much higher price not (at the time) knowing enough about the life cycle of mining companies and the whole process of getting to a working mine. That was my fault and my fault alone, down solely to my ignorance and naivety. Consequently I have accepted I bought in at the wrong time and that was nobody's fault but mine. No one held a gun to my head to click the buy button. I hold probably more shares than most and am massively underwater but I'm not going to **** the share or the management off day in day out because at the end of the day this is MY company. I had reasons for buying in (the world class asset at a ridiculous price) that hasn't changed. That asset still sits there waiting to be dug up. The asset has been massively de-risked.
Do I like managements style? Not particularly, I think LR is overly cautious, always. Plus earlier comments about not caring about the share price and refusing to admit we were vastly undervalued were mistakes plain and simple because it meant we had to raise and dilute the company much more than necessary. However if LR ends up selling this asset or company for a couple hundred million dollars, maybe just maybe his laid back, cautious, conservative approach will have justified itself. If he pulls it off he'll be a hero and all the negativity will disappear in an instant and if he don't he'll be uninvestable in any future company imo. So in summary, if you're invested and deep under water I understand the anger and disappointment but you have to take ultimate responsibility for your own investment decisions, that's the first rule of investing! The second being don't invest with money you can't afford to lose (without crying). Either sell up and move on lessons learned, without complaining and haunting the BB like a little ***** or stay put and see if LR can pull this thing off and cover himself in glory and us in wealth in the process but ffs don't coat off your own company day in day out, that really is the height of stupidity!
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