Full disclosure...over the last few weeks I have been offloading most of my SAU position. I moved most of the funds into BBUS and a few other goldies which has worked out pretty well so far. I hold around 10-15% of what I once held and most have been sold at a loss unfortunately. My reasons for this are as follows:
The Cannon sale - I feel we sold the proven asset for a good sum, however any potential upside to the resource or the gold price has been sold for a song. Sure this helps our cash flow short term, however what about long term growth for the company?
The Stockmarket in general - We are due a major correction, I feel the last couple of down days in the US are just an entree for what is to come. If that happens, marginal/underperforming investments will be sold off quickly regardless of FA.
Volume risk - With no depth on the buy side I was starting to worry how I would ever exit my position if something went wrong.
Unloved/Unappreciated SK assets - Unfortunately the market is uninspired by our SK assets, I am not sure why but my guess is because it is outside the "norm" plus the proximity to a potential war zone. The market hardly reacts to any SK news.
Anyway, those are my 4 major reasons for selling down. I still want SAU to succeed and believe it can possibly do so, but we need luck on a few fronts IMO and relying on luck + a volume shortage were a bit too much risk for me to bear.
Good luck all. Cheers
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Last
0.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $5.444M |
Open | High | Low | Value | Volume |
0.9¢ | 0.9¢ | 0.9¢ | $16.17K | 1.797M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 1263168 | 0.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.0¢ | 500000 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 1263168 | 0.009 |
2 | 1125000 | 0.008 |
5 | 1291000 | 0.007 |
2 | 333335 | 0.006 |
1 | 300000 | 0.005 |
Price($) | Vol. | No. |
---|---|---|
0.010 | 300000 | 1 |
0.011 | 200000 | 1 |
0.012 | 320467 | 2 |
0.013 | 200000 | 1 |
0.014 | 481970 | 2 |
Last trade - 14.45pm 28/06/2024 (20 minute delay) ? |
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