From one long-termer to another, I agree with you. It's gonna be short term misery whilst the panic merchants and shorters go through their process of dumping more stock. It will find its nadir and then build from there.
We just need to be more patient. It will make the portfolio look a little ugly, especially since I have been topping up recently. However, it will recover and perform to its potential - eventually.
I think the lesson here for management is that they need to focus on delivering what they say, when they say it. They have missed their targets on the YOP implementation date, the mining approvals dates (for work east of Floater Rd), the SDV partnership opportunity and (most significantly) receipt of funds from the SDV north sale.
They are developing a reputation for not hitting target dates..... which they will get punished for by most market participants. especially when their communications (to stakeholders) is minimal at best.
It's gonna be an interesting earnings call today.
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