RE: Minus 75% and counting2 Nov 2024 16:01
Melons falling everywhere. Brada Head (lithium exploration ) down a similar amount. Condor gold down about 50 percent. Melon is down a few million in his own companies, but quite successful investing mainstream. Anic was trading at nearly six times asset value at one stage. Now trades at nearly 4times below assets if figures can be believed. So on the face of it Anic is a better investment. CNR is in a difficult geopolitical place and Brada Head probably needs a lot of investment to get to production in a metal that is out of favour currently. The thing that hacks me off about Anic is the exaggeration about products coming to market. When your are bringing a whole new concept to market and you don’t deliver expect to get hammered. It should be ok long term, but going to be very slow progress getting there it seems. Averaging down is a waste of money. When it falls 50 percent it has to go up 100 percent to get back to where it was. There must be better investments to make the money back elsewhere by diversification imo. Otherwise it’s a classic way to get in too deep, unless you always intended to invest more. Its not your averaging down that will help the share price it’s new investors that will drive the price back up when they see value IMO