I don't have a problem with PH, he is a nice guy and I'm sure ultimately he would like this project to succeed as much as anyone.
My experience with trading is that good announcements get released without delay and timelines are met... When things aren't going to plan announcements get delayed. The timeline for funding/offtake and FID was late June, early July. So...the fact nothing was announced by the end of the first week of July, should have told me to reduce my position.
Leading up to that announcement on the 17th the main points of discussion here were these things;
- leadership etc of PH - overwhelming positive from the forum
- missed timelines repeatedly - a warning sign that I should have taken more notice of
- offtake/funding - speculation so take any of it with a grain of salt
- tight labor market, accommodation issues etc - again...i should have taken more notice of this
- nickel market - for the most part most are bullish
So, PH has said most of what is said on hotcopper is rubbish... I think all points above were fair discussion points.
I did contact PH a couple of times checking in with how things were going, at no point did I get any indication that there was a problem....and the reality is nor should I, or you would all have a reason to question why I got the info and not everyone else. Which is why I believe as soon as they got notice from western power about the delay, the market should have been informed immediately, as soon as there was an issue with met results the market should have been informed immediately, likewise with other issues. Instead we had the Padley interview doing the rounds, the positive LJ results...all pushing the price...and then on the 17th we got all the bad news wrapped up in one to smash the price. Maybe if info had of been released as it was coming people could have had time to either stick with it or bail....instead we all either sit in the red or take the loss. Ultimately as investors it's on us and you learn from your mistakes....I just wish I took a little more notice of some hotcopper posters....
MJ
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