A few people here probably know my evolving story. Sorry, it's hard to keep it short.
Basically, I went pretty heavy into GXY and AJM back in 2017. Within 6-9 months I was up about $300K but decided not to sell any as would have lost half in CGT
. You all know what happen next............
As GXY and AJM peaked and then started to fall, I invested more as by then I'd done my research and was convinced that Green energy and EV's had legs!!. They dropped more, I bought more. They seemed like a "bargain" and I kept taking money out of my mortgage offset account to buy more. I got angry as I started to see red and bought even more.
I also bought my first parcel of PLS at 84 cents thinking they were a bargain after dropping from $1.20.
By the lows in April 2020 I had gone from up $300K a couple of years earlier to down about $600K across all my accounts including my SMSF.
I had done the wrong thing and invested far too heavily and tried to catch the falling knife many times.
I felt sick, embarrassed, despondent, angry, disgusted and disappointed in myself. Frankly, I had many very dark thoughts and didn't really want to go on. I even checked how much "I was worth" for my life insurance if I wasn't around any more to look after my wife and kids. But I kept fighting and I dug the F*#k in!!. I was also so convinced the BEOT was destroying the Lithium market for their own personal gains shorting or whatever, and I decided they would never have my shares at any price. I was prepared to lose everything rather than sell to those ba$tards.
About the time of the lows, AJM went into liquidation and that was well over 6 figures I could never get back. But I bought more PLS as I liked their new shiny Altura asset, and I participated in every PLS SPP. I didn't buy many at the bottom, but I rustled up a few thousand and bought what I could at the bottom - GXY, PLS mostly.
As the Lithim market started making a comeback, I gained a little confidence back and though that perhaps I was right all along but my timing was off. I found CXO and bought a few at 5 cents, and then added more from there.
I sold 20,000 PLS at $1.67 and 5,000 GXY at $4 just to have the feeling of a little cash again!! I ended up buying more Lithium juniors with this cash including CXO as I strongly believe the long term will be kind to all decent Lithium producers and emerging producers with good assets.
As at today I have about 180,000 PLS shares remaining at an average cost of 50 cents (up over 400%) and close to 50,000 AKE (ex GXY/ORE), 500,000 CXO and some others.
I am around $700K in the green at present and I firmly believe I deserve to make more than a million bucks given the pain and heartache I've been through to get to this point, and not sell any meaningful volumes of my Green energy stocks as yet.
I'm trying not to be greedy and I do have an exit plan to sell small volumes along the way soon once each share hit's my little target prices. In some cases I have revised up the targets - a double edged sword though.
I am looking to sell mostly my others and hold most of my PLS long term as I think PLS is number 1 and superior to every other Lithium stock. If things get really silly in coming years, I have a pathway to make a couple of million, but first things first, I'll be very happy getting $500K back off the table and back into my mortgage offset account!!. It's not a done deal and I am still very cautious.
I don't take anything for granted and am a bit nervous about the volatility - my portfolio went down $100K on Monday and then up $50K each yesterday and today - its crazy stuff and hard to watch
But hopefully the market doesn't fall into a heap and I can sell a few in due course and start to reduce my exposure and take some profits over time.
I have learned many valuable lessons along the way and will be a 10X better investor from here on in.
Lithium stocks may mean early retirement and possibly a "Sky Home" with an awesome Ocean View at some stage. But fingers crossed we just keep building from here. Slowly but surely is fine by me!!
Good luck to all holders and may all your / our wishes come true. The PLS community has been invaluable to me during the tough times giving me the will and the knowledge to press on and make informed decisions and most of all - be patient!!
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