Ann: Results of Meeting, page-65

Hi Towie, sorry but you assume that I meant everyone had the opportunity to sell when PW did. On the contrary, my point is that there were ample opportunities to sell above current prices over a period of several months! There were 3-bagger profits and above available for the taking for anyone who had got in at the beginning of the year or earlier that spanned months. There was also a 2-mth period where the SP ranged at an average of 1c (double the recent low).

As I have learnt the bloody hard way, forget tax implications... take a profit, especially when it's a big percentage profit and especially when in a penny stock, Towie. Sitting on a good profit biding time and/or hoping for more when it's known that news flow is going to dry up is suicide. The smarties know when its time to depart, crystalise profits and move onto the next news-worthy stock where they put their research skills to work to ramp once more. The rest of the holders are left chatting on the forum mostly complaining about the SP and trying to find someone to blame... aka PW.

You can't blame PW for your decision to remain holding because you didn't want to pay the CGT at the full marginal rate. I did exactly the same thing with BSM. Just had to wait 2-mths for the CGT discount to kick in, but in that time my profit had dropped more than the tax discount represented and compounded the situation by buying more shares. I bought trading parcels along the way and got caught with a few but because I was convinced that the fundamentals were still intact, I remained unphased... and unphased by one particular poster who warned me about averaging down. Well, at that stage, I was technically averaging up.

I could not have picked a worst sector to have got caught up in than graphite! Unbeknown to the uneducated (which I am not now), the company were having technical issues contending with the inherent fragile nature of graphite making it a very difficult material to process. What do you do when company Anns suggest everything is hunky dory and the resident ramper is still preaching blue skies... you stay stoic and stay focused on the unfaltering fundamentals.

If you have a tendency to be influenced by the ramping (as most are) you should steer clear of HotCopper. Micro-cap stocks are highly susceptible to manipulation, ramping, self-serving agendas and SP volatility. You cannot blame PW for the change in your investment value... you can't even blame the rampers. I mean they assist in getting the SP up (which everyone wants) but when they sell, not only does the SP take a hit but there is no one to ramp the SP anymore! Catch-22 situaton. You just can't afford to get carried away with the hype and blue-sky theories that abound on HC simply because those spruiking it are rarely the LT investors that they make out and are certainly not as invested for longevity as SB is with so much skin in the game.

Don't get me wrong, I think LNY has heaps of potential and heading into 2020, I'd expect gold prices to hold up. Also, given that PW is in partnership with SB, I reckon he probably does more work than anyone realises... probably more work on LNY than the other directors and remember that he still has about 13,000,000 shares... its not like he sold them all.