Don't know if your assumptions are correct.
Your first sentence >The current situation has been entirely created by management and not the "global economic conditions"<
is completely incorrect, only to blame management. Maybe you have forgotten the correlaton between 'global economic conditions' and 'iron ore price'. I might help you more with this 5 year chart
You know, there in one single bastard, who is turning more than half the world into recession. Whole Europe is suffering from energy prices, Interest rates are being drastically increased everywhere to fight inflation. And you only blame management and not that bastard too ?
I was more than a decade in GRR, topped up my position there some years ago at 10c. Their management couldn't get to sleep last year because of astronomical gains from their pellet production. They awarded SH two times with a half year dividend of 10c each, not bad me thinks, when I recall my cost price from that top up
But even that cash cow is still making huge profits in this economic climate, but how long this will last? When they dropped their dividend to that normal level before, what do you think sp did in a short time from june to september? I can tell you, sp dropped from 1.75 to 0.75 AUD. I could only blame myself for not having sold at top prices. I sold out the third day after sp crashing in this cash cow. Now it seems to have stabilized around 75c since then.
But you are
absolutely right with your second sentence >This management group .... through their own arrogance and delusions of grandeur turned it into an unviable project <
I'm sorry to say this, I'm trapped here like many others with my pants down.
Now try a short or long distance run with your pants down !
I came here on board more than a year ago in CAP days, I have to admit that I relied too much on Tran's euphoric comments. But I don't blame him for my own inadequacy. I'm just infinitely sorry that he probably suffers the most from bringing his family and friends into this investment.
Unfortunately, I'm also in a similar position here as
@Pezz69 with ADN, but not to the same extent as him. He took a big tumble with ADN as did I, shoveling some of what was left of ADN into HIO, was a top 20 holder with 4.5 million shares in HIO and now suffering the most like Tran. Honestly, it's no glee to see other investors suffer significantly more than myself. I'll get over it, it's only a few thousand dollars, but it's very sad to loose millions.
So it doesn't matter if you're a small fish or a big fish in the ASX casino, it will hurt you equally when sp runs away, but not in the desired direction. I finally decided to get rid of this sh*t, hopefully my order will be executed.
Just out of curiosity
@Pezz69 did you leave the HIO boat or do you continue fishing with paper losses in this boat?
(20min delay)
