CXO (ASX) Banter and general comments

Originally posted by BrucieKibbutz: ↑

Some great points put forward by Luke and sunny. Thanks for the civil discussion.
The thing is we don't all have to agree as a lot of these things is opinion not right or wrong.
Apart from the obvious clowns that are here trying to spread FUD for their own agendas the last few days has had some great discussion.

I have a very broad portfolio as I still regard myself as an armature despite being on board here for a few years now. CXO is one of my highest conviction bets. One thing that having so many stocks does is give me a broader view of what's happening and CXO isn't alone in the general malaise that is going on at the moment.

I think currently some holders are discounting the pressure that markets are under at the moment from the highest rates of money tightening in history. Yes we have had interest rates far higher before but the rate of change is the most important thing and that is currently the quickest it has ever been. Now some might ask wtf does that have to do with CXO as we are Debt free, but it pulls money from the total pool looking to invest, And a lot of that money is being put into cash that for the first time in about 20 years is actually yielding something tangible. (we could have a separate discussion that dollars buying power is still being eroded by inflation but that's a whole other can of worms)

Personally I don't think management are doing a terrible job. Yes there is less price sensitive announcements happening but you cant just make the bloody things up. Could they be more pro active in informing shareholders whats going on, yes. However i would rather them focus on upgrading the resource and get the processing to nameplate capacity and full production as quickly as possible and if it means that the share price suffers a little now while they concentrate on getting this done then so be it. That all comes down to time frame for each individual though. Mine here is long, Im happy to hold for the next 5 years (unless my thesis is broken or changes). If you are looking for a get rich quick stock this probably isn't it with most of that action happening in the lead up to actually starting the mine. we are now in a different stage as a company and I think a lot of people are forgetting that.

If its that explosive growth you are after its probably time to sell and move to the next explorer looking for the next big find. We will never know the full story why Steven left and it might be because the board thought there could be someone better at running the functioning mine or it might just be because he loves the excitement of a new discovery, Like some people like the thrill of volatile explorers and some prefer building long term wealth with less risk via producers.

I'm ok with anyone disagreeing with anything I've said here but I do think some posters in these threads should question why they are here and are they still invested for the same reasons they were when they first got here or are they still expecting unreasonable amounts of profits in a time span that is fitting of an explorer not a producer.

Who knows what we have coming with the huge amounts of exploration currently going... Hopefully it is growing the resource by many times its current size and with that comes some large appreciation of the shareprice like we all think we deserve. Either way though I still firmly back CXO's strategy of getting into production fast and trying to add resource size later to take advantage of good prices now. Know one knows how long the gravy train with lithium will last despite there being huge forecasts for decades... cause shit happens and technologies change. That's why I am light on explorers and heavy on producers and recyclers....Im expecting my gains to be not as large as they could be but I also have a higher conviction that I will get those gains rather than backing explorers who are years away from production and are trying to stay afloat in a high interest rate world where miners of all commodities are switching to lithium to try and benefit.

And don't get me wrong I haven't enjoyed the share price action over the last 12 months, It sucks, but CXO is not alone on this. We have many catalysts in the near future so hopefully a re-reate into something that is a bit more palatable comes in the near future and hopefully management steer us to towards big fat Divies in the longer term and improve their coms with retail on the way.

Sorry this turned into an essay after i was only going to write just a few lines.
Good luck all and I hope my ramblings help some people get some perspective.

Happy Friday

Expand

Thankyou BrucieK.

Sensible commentary rather than the endless dribble and not very humorous comments of many.

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0.105	2381663	23
0.110	4240567	52
0.115	3208676	35
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(20min delay)
Last 10.5¢		Change 0.007(7.14%)		Mkt cap ! $225.0M

Open	High	Low	Value	Volume
9.7¢	10.5¢	9.7¢	$997.5K	9.870M

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