RE: Why is this going in the wrong direction.3 Jul 2020 18:23
SXX suffered from not only trying to finance a multi-billion pound mine but also trying to prove an unproven product to a market accustomed to potash, SOP and MOP, and there is a big difference between proving a resource to JORC Vs proving up a potentially market disruptive unknown product in the form of Polyhalite that is totally unknown to the industry at large outside of what an early 19th century chemist said of it. (his name alludes me).
So in EML we have a very low industry CAPEX, we have a market proven product and we need hundreds of millions for finance as opposed to thousands of millions. So no, this is not SSX mk2 in my humble opinion and I lost a third of my capitol on SXX.
I fell for sentiment and blind faith in what others said (namely me ole good step dad, bless him) so lesson learnt. All that said if Chris Fraser had been appointed CEO here I would have run for the hills with a 50% profit. As is I am long and strong with a mere 25k shares (# not value) that could very much change my life in a couple years.
Heck I would be all over this sub 5p dip but alas. Zero hour min wage furloughed worker and all dat jazz and I have already quadrupled my holding during lockdown. And FYI pub lovers, I was called by my work tomorrow to be told at short notice that I have training 9 till 1 tomorrow so rest assured Britain, Greene King Pubs will be open from the 6th.