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Open Letter to Simon Hay, page-124

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Gary35

294 Posts.

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29/06/19

19:47

Post #: 39303628
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Originally posted by Ozyoioi ↑

It's kind of funny how because there was no major selling on Thursday, some holders were over the moon that somehow the stock has hit bottom. And then Friday happened. You can only buy so much of a constantly increasing bargain before you have to question whether it is a bargain at all.

Open your eyes people! There MAY be a long term hold here (if you have a timeframe of many more years and some good fortune) but this is going further down for awhile yet (think years) until something fundamentally changes either at the micro or macro level.

GXY messed up with Sal - essentially appears they cooked the goose. And now there appears to be something else going on for which completion of the ponds has stopped per satellite images. Is it new tech, holders will hope so but past management behaviour doesn't instill confidence. Plus the analysts are usually the first to know so the decreasing share price speaks volumes.

Mt.Cattlin must not be making production records this month judging by the lack of further announcements. The low cost announcement was great but one month doesn't make a trend and one questions whether it was manufactured by circumstances specific to that month or a couple of months (e.g. stockpiles from the previous months being processed resulting in a favorable short term cost balance).

Don't hold your breath for 100,000tpa either - I'd suggest is impossible given Mt Cattlin will be out of production before James bay or Sal are in production, and there's not enough money to pay for it all.

yeah, that cash balance, don't be surprised if it has shrunk substantially from what you thought it was. If they had managed to claim a significant amount of tax back (which was paid in may) we would have heard by now. Id say the cash is down to about $225-$250m AUD, and when that's announced in the next quarterly, expect that to sap further positive momentum.

Management are not winning any retail holders trust with their constant amateurish statements and targets that go unmet. And then granting themselves freebies at holders expenses. And that poor communication!
Condescending, arrogant snots at the trough.

China NEV sales growth has also plummeted, barely better than last year now so expect the questions about demand growth projection to increase. And subsidies disappear shortly so expect anything lithium to keep heading south. No one qustions 1 mtpa but everyone bags out the investment banks projections even though the latter has been proven right.

air-conditioner is out of self proclaimed asylum but this time as the stock continues to tumble... Says a lot if the most liked motivational poster is on the forum trying to scream at all the sheep like i once was not to look back as we jump off a ledge.

Simon Hay as some sort of saviour makes me laugh. Sure he may prove his capability in time, but for the moment, he's probably been brought in as a 'yes man' to take the place of AT falling on his sword. He's got no lithium industry experience or expertise, we're not Iluka. Don't hang your hopes on it.

for all the genuine holders as once i was, if you have the time and question yourself, good luck to you whether you decide to hold or fold. But be careful that 'holding faith' is not usually a sound investment case. Expect the ongoing moving goalpost of future hopes to cling on to.

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Confirmation bias 101.
Your sentiment has been buy all time and suddenly you have had to sell (tax loss selling I’m guessing )and suddenly your views on the whole industry and share have changed 180 degrees.
Do everything is now bad and won’t improve for years?

I know confirmation bias goes both ways on here.
So hard to ever really get an objective view.

GXY Price at posting: $1.23 Sentiment: Buy Disclosure: Held
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