Banter and General Comments, page-14248

Comparing valuation of GXY to the Wesfarmers purchase of KDR is such a rookie mistake. Firstly, conditions have deteriorated substantially since the Wesfarmers purchase. If you can honestly say Wesfarmers would still pay the same price today as they did back then, you would be highly delusional. There are other factors that make GXY less attractive than KDR, including quality of resource, partners, etc.

Someone the other day used the POSCO purchase of the northern tenement as a reference point for valuing GXY. Perhaps they have been under a rock ever since the purchase was announced, but that was at the peak of the lithium bubble and using such a valuation is so loose it's ridiculous. Imagine valuing a tech company in 2002 based on an acquisition at the peak of the tech bubble. It would seem ludicrous to do so, right?!

And I've been hearing the same old story about shorters being burnt on repeat for ages now. It started at well over $3 and has been playing on repeat ever since. Shorters got it right, you guys got it wrong. Get over it. No need to have hard feelings just because you were on the wrong side of a bet that has and continues to go horribly wrong. You guys were betting on there being no oversupply, the price would stop falling, demand would keep outpacing supply, reduction in supply would help with the supply vs demand equation, etc. None of this has eventuated and now you're all having hissy fits about it and blaming those who got it right for your own poor judgements - share price is low because of short sellers, etc. Grow up holders!