I've been posting on here about MTC since last year, if I ever wanted to complain or was unsure of the management holding my investment I would have simply sold out at any of the peaks like 35c in December, 29c in January, or the recent 26c ~3 months ago. Instead I've just been topping up on the dips as much as I can. Obviously I could have dumped small amounts at the peaks and loaded up more on the dips however there's a big reason I didn't, FOMO:
That is all the selling volume that has been available the last few days, ~$30k all the way to the highest amount which is a 45% gain from last traded price, and 67% from the EOFY dip 3 weeks ago.
$30k/270k shares.
In the week after the BCC announcement there was around ~15,000,000 shares traded for the 40c peak.
In my opinion that was very trivial news compared to the project level investment announcement which could drop at any second and make many more headlines, causing a flood of a much greater magnitude than last time.
Add the natural headwind from upcoming drilling due to commence in ~2 weeks and the massive potential upside of the results themselves and there was just too much upside even from 26c for me to have justified selling a cent, and not to double triple and quadruple down when I got the opportunity.
...Which is why it surprises me when people talk of 'banking losses' like they expect the price is more likely to sustainably drop to less than the price of the company's land and cash than than it is to skip upwards on tiny volume. I'd genuinely like to see your estimate of a distribution for possible share prices and their probabilities in the future to see how your weighted average is somehow lower than current prices.
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