LSE tonight, page-6958

What a classic, no one likes losing money but management gave every opportunity to reassess your risk and determine your best or preferred action over the last month or so. Personally I'd have to say I anticipated what could be coming based on previous announcements and management were ensuring they provided all information they had at hand in a timely manner to be sure they could not be accused of non disclosure in the event of failure, the probability of which grew increasingly over the last month or two, so I also severely doubt this is a play to enable those in the know to buy in low.
To those thinking about averaging down please remember it has been stated previously by several very successful traders that one should never add to a losing position as your money could be better spent elsewhere instead of clutching at straws and sinking further. I've gone against this "rule" a couple of times foolishly believing it would increase the ease of recovering loss but to date has not ended in my favour and I'd have to be damn confident of a saleable increase to ever do it again, buyers will dry up eventually and you may well be left holding more than you can easily off load possibly at an even further reduced value. In this case my crystal ball tells me that I shouldn't expect this share price to increase substantially or maintain any gain unless an extremely positive announcement is made based on the fact that market sentiment has obviously changed. Also remember larger players have the ability to manipulate the price upward for the short term to enable them to get out at a slightly higher price and perhaps these opportunities should also be seized by average investors wanting to bail. Personally I'm still holding and happy to do so longer term as I believe management will do their absolute best to provide shareholder value as is it's legal obligation, who knows what's around the corner that may change market sentiment although I'm probably also dreaming and hanging onto hope as I'm sure are many others. At the end of the day it is a spec stock and 9 times out of ten they do fail regardless of what anyone on hot copper or especially what any broker may say about the merits of the project. At the end of the day the risk is real, maybe its what's so appealing, the chance of getting rich and the excitement of anticipation and the feeling that you may be a winner, kind of what gambling is all about. It's quite exiting isn't it?

Please, whatever you do, don't trust my opinion as it is just that, my opinion, and believe me I have been wrong before and more than likely will be again at some point, possibly even now. It is your money and do with it what you will.
Good luck to all.