PAR. SP, page-454

exactly my opinion too!

All my pre revenue stocks have dropped 50-90% across the board over the last two years irrespective of good or crap management or sector (although bio's worst hit).
I've seen written multiple times that this is a historic risk off environment, a once in a generation undervaluing of micro caps. money has flooded towards bonds and large caps all over the globe.

I think most people have been looking at this past few years in the wrong light. The risk reward at the moment in these small, pre rev Aussie companies is so much more in our favour now as compared to the last decade. ok I understand there is much more risk in raising capital in the current market but even so I see this as a once in a lifetime opportunity to build large (for me) holdings in multiple companies that I never could have afforded to do if they were fairly valued. I can spread my risk over say 10 risky stocks and now I only need 1 or 2 to come good to be life changing. Just don't panic when you see red. Easy.....

I'm not defending PAR management here but every single hot copper company forum has sounded the same for a long time now. Everyone is bagging management and asking why they've let the stock price drop so far and why are they not doing anything to fix it. In my mind managements job in the current environment is to not go bust. If they can progress the company while not going bust then that's a bonus. Anybody with money, whether that's large companies or brokerages are bulling these small fries left right and centre, they know they hold the power and are taking advantage as much as they can, but at some point in the future sentiment will change and the micro cap market will rally and once it does cash will flood back in and this once in a lifetime buying opportunity will be over and we'll all be back in the boring old green.... probably, maybe, hopefully.

I will say though that some of my companies saw this situation arising and did large cap raises at near all time highs and then did everything they could to preserve funds while waiting for rate cuts and market sentiment to change. PAR is not one of these companies and they have been taken advantage of because of that. Who would have thought hey, doctors are not that good at capital management or predicting once in a generation market fluctuations.

Just my opinion and thank you everyone for keeping the PAR forum relatively civil over these hard times.