Hi guys,
I actually offloaded my Triton holdings.
Sorry
@gimmegimme that you thought my upvote of your posts meant you could still rely on my previous 1m + holdings.
I absolutely appreciate the huge amount of work & effort you put into the last AGM mate, the response from the forum was really disappointing to say the least & the toxicity lead me to the conclusion I no longer wanted to post on the Triton forum.
After a terrible year of surgeries, including cancer...After losing a best friend...After the fundamentals changed significantly...I could no longer justify my position.
I have to say...I was completely wrong about both Peter & David...They were far from capable of executing on Triton...The provisions of the Jigao deal were found to be disgraceful, completely leaving Triton shareholders open to paralysis...Whilst shareholders are never going to see the finer details of a contract...I never believed in a thousand years that a CEO on $300,000+ a year could sign off on a contract with no protection or key caveats that secured shareholders interests...It was grade 1 level stuff.
After losing Nicanda Hill, the fundamentals have more than significantly changed for Triton...Ancuabe was always a potentially softer road into production for Triton, whilst concurrently advancing the Nicanda Hill project and waiting for the right market conditions to bring its viability forward.
When covid hit it set the renewable sectors on fire...It gave life to not just SYR but the entire battery chain...All of a sudden battery grade graphite tenements around the world had currency and a genuine prospect of being investigated for development...Throw in the election of Biden and it's the perfect storm for Triton.
Instead we found ourselves in a political war with China...Completely isolated from our majority shareholders and chairman...And worst of all without our prized asset of Nicanda Hill...I smell a rat big time there.
I couldn't justify holding Triton, on the hope that Andrew Fraser could pull a rabbit out of a hat on an EXPANDABLE graphite project...The risks had become next level.
Triton was a labour of love but I knew the time had come for me to make that cold hard decision...Remove the years of emotional entanglement and make a sound financial decision...When I looked at it in the cold light of day...I couldn't hold.
The second I sold was a relief...I had recovered the lost capital from Triton in a week.
Yes
@Bloke485 I completely acknowledge that I was an absolute bunny when it came to Triton, wrong on so so many levels. It goes down as one of my worst decisions in investing.
Thankfully I've been able to make more right decisions than wrong decisions on the journey so far to offset Triton.
I'm only late 30's with perhaps a few tricks to learn before catching up to you both...I get the impression you guys are both perhaps late 50's and in a different stage of their investment strategy & appetite for risk? Possibly able to better justify carrying Triton in the portfolio?
I type all this from a hospital bed in Melbourne already a week into my stay and counting, on a lot of strong drugs so forgive my waffle...After years of terrible surgery and pain...I needed to fix a few complicated hernia and decided I'd treat myself to a body lift at the same time haha.
Sorry again
@gimmegimme because I certainly feel like I've let you down after all your fantastic work.
@Bloke485 your likewise a fantastic bloke, hope to keep in touch...Did you end up buying that Tesla 3 for the daughter?
I'll continue to follow the Triton journey, I'm absolutely still cheering for the shareholders and you boys...Nothing would please me more than to see this get up.
Kindest Regards, Dan
