No wanting to disagree with your sentiment, as we are all underwhelmned by the slow progress of ASM.
However, in my view, there is a price to holding every stock and it is not opportunity cost vis a vis the market. It is the cost of holding capital in a company or industry that has a lead time between concept and commercialisation. In the mining space, this can be as long as a decade. The share price peaks and trought on short term news, capital raisings, cost overruns, technology changes and commodity price changes as well as a myriad of human mis-steps that can be neither avoided nor anticipated.
There are undoubtedly many ASM holders that watched the grass grow and then get burned by holding ALK over the last 10 years. Then many became millionaires in 6 months.
Who could have accurately anticpated the timing of the stock explosion. Really, no ne. You just had to be there in the year it happened, believing in the business and its management. Selling out even just a month before the stock went on its massive run and the ASM slpit, means you walk away with nothing. That is opportunity cost to me. It has little to do with the fate of other companies but a lot to do with the one you are invested in.
It serves little purpose for me or anyone else to rattle off the long list of junior miners, bio techs, start ups etc that took 5-10 years before moving the world. The "overnight success" story is more a myth than a reality, though many want it to be true.
My investment in ASM is 100% free carry, like many others. $$6, $8 and $10 was just too much to resist selling into. It was a frenetic rush of blood in the minds of speculators. I have no delusions that success is guaranteed in the tech or products ASM may bring to market. However, I understand the lead time is years, not months.
If I can offer my lesson from my experience, I can only suggest holders invest what you can afford to lose and only what you can afford to commit, without needing the cash, for a minimum of 5 years. Let the company do its thing, because we play no part in it. If those pre-conditions don't suit, one should ask oneself WTF did I invest in it in the first place and make the appropriate move.
There are large stakeholders in ASM with a lot to lose. They know both the potential, the risk and the timeline. I generally like to be in that sort of company.
If the price falls again to below $1.10, because punters have lost their shirts or their patience, I'll buy up more, you can count on it. But, if the price falls because of a change in the fundamentals I may not. In any event, I will hold and commit capital in this company, until I leave this earth.
I believe there are many chapters yet to be written and patiece is something I have learned to acquire, curiously more in my old age when I have less time, than in my youth when i had all the time in the world.
GLTASH
ASM Price at posting:
$1.20 Sentiment: Buy Disclosure: Held
(20min delay)