Something I thought I would add. For all those people saying LTHs rode the wave down form $2.52 you're in the red.
1.) For most, the LTHs average buy in, is not $2.52 it is far lower.
2.) Even if you were the person that bought at $2.52. Lets say you bought $10,000 at that price. Riding it down to 51.5c, it would be worth $2030.
If that same person continued to invest, since thats what people do in a down turn and invest $10,000 at 51.5c, that would now be worth. $16,690
So in reality, you'd only be down 2.3k (still 10%). However, if the SP was to ever get back to $2.52, your $20,000 would be worth $56,416.
Something to ask yourself. we are at the bottom of a commodity cycle, invested in a company that is 25% of most of its peers and continues to demonstrate it will continue to increase its resource and concentration.
Is it really a bad thing to only be down 10%, given the potential upside? Patience makes millionaires
As I've mentioned before, in 2014 I invested all my money at time in FMG. I still hold today. Have a look at the cycles on that chart. The amount of people that cried about timing the market and "you rode the wave down" blah blah blah.
Now, my dividends are nearly 100% of my initial investment fully franked a year and the principal amount, well you can do the maths.
Yes, very few companies ever get there but they do and you've been there from the start. I want to retire by the time I'm 40, and if Wr1 gets to production, I would say it would get me there.
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