Hi Guys,
I have held Lynas shares for quite sometime, buying 12,500 shares at approx $1.10 each holding hope the company will someday become a success. And perhaps it will ! I certainly hope so for the remaining holders. As each announcement came out especially the lifting of the TOL, I really thought there would be a significant improvement of the share price. Sure the share price went up and it certainly was a positive announcement but near term future funding of LYNAS operations would always remain a question. How, when, where, and how much.
Without going into the technicalities and fundamentals of the company and DEFINANTLY not knowing if Lynas will become a success or not I decided to sell out for a $11000 loss.
Sure this amount hurts me but its not a huge amount compared to others that have lost on here....so far. There were some sad stories I read across the weekend and decided to jump ship and bail out. But I am finally relieved of Lynas as it has been a pain in the backside but I figure we are all in this to make money. I made the mistake of having an emotional attachment to a company whos share price seems to be going downwards or in a side ways path with too much uncertaintly.
Todays announcement did it for me!. I am no genius but Im not a fool. I like to make money, not lose it and figure there are better companies to invest in that are certainly on their way to become successful. So what I did with my $1660 left over from the sale of LYC was to invest it into an up and coming LNG comany. Most people will know what company it is!. The "proceeds" bought me 380 shares at $4.37 each and today it reached $4.45. An increase of 8 cents. Not a huge amount ($30) but when you look at where this company was 6 mths ago and where it is heading, in my opinion I think it is a better investment and certainly a better chance to recoop my losses..
Sure,its going to take yonks to get back my $11000 loss and thats if I do,,maybe get at least half back, over time, but Id rather have have my investments going up with more certainty, investing into a company which has just recently been admitted to the ASX 200, and sleep easy at night with less worries during the day.
Thats my 13 cents worth, and good luck to all the remaining holders. The company has tremendous potential sure, but too many stars and planets have to line up properly for this to happen, eg increase in rare earth prices, increased demand, funding, increased output and good management.
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