Yeah - its gut wrenching to get out of something too early, as it means that all your investment thesis & research and positioning was right but either the market was wrong, or your own timing was wrong and money was left on the table. Have had it happen to me as well, and often it seems that being "too early", and being "wrong" can look the same, until things start to go right.
There are very few ASX listed Cu producers out there that aren't fully priced in yet and/or part of a larger Iron Ore/other commodity behemoth, and even less that don't have the single site "execution risk" problem and inflationary costs squeezing margins. I try to keep some producers around because in this inflationary world with delays to permitting and construction, its possible that the market will discount junior explorers and mid sized developers even if the Cu price does continue to rise, because the market can't see a pathway to profitable production until the production is proven (the execution risk is gone). If the price of Cu doubled tomorrow (which is unlikely but something worth considering as an investment thesis) you would want to be in stuff such as SFR, 29M, AIS, AMI, A1M & CPM.
Add to My Watchlist
What is My Watchlist?
