I also bought the low, sold the high, then bought what I thought was the low and sold the lower hahah .. ahwell it happens. If I see more volume Monday I might buy a trading parcel because I'd like to make what I lost back here as Id like that opportunity.
Selling the low, the real low 1.7 was all my choice and I accept that, COViD was a serious concern for me and cashflow for our businesses as I dont get paid a salary, and I didn't know how much lower this was going. A giant loss, that's fine its a capital loss and whilst it hurts at least none of the profits I've made elsewhere will have Capital gains attached to them this year. To be fair as well selling it got me back into a grove I had not been in for a while as it gave me a new level of drive not seen off the back off a year and a half lull.
Do I trust the new management no, not yet, still have a lot to prove in my opinion, but they have a monster opportunity if patersons is mineralised. First step is getting that 7 odd million in the bank and observe what decisions will be made with expenditure. There is a few pieces of evidence to suggest it could be more of the same but whatever the aim of the game is to make money, if their options are at 5c and 7c you can bet it will get to these levels + 20, 30% so at these prices its hard to lose id think. I completely get they are experts in their fields, and I take it on board.
They have good prospects they should be able to make money from here, what scares me is the thought of small mineralisation at Patersons as the biggest risk. I am sure you will all make money at this level, and well good, we live in a circular economy.
There are definitely some huge skeletons which will take some time to clean out of the closet, and only time will tell. I think at some point its up to management to make a statement to start the process of the spring clean, that acknowledges the past to an extent and then talks about the future and why it won't be the same missmanagement of funds.
Anyways the beauty of a public forum is exactly what's occuring fluid, two way symmetric conversation, real conversations, the positives and the negatives that provides a sounding board, moderation will come with new management actions. Until some meaningful work has been done, this forum will continue to provide entertainment.
Anyways again just an honest assessment from my eyes. Others will vary of course.
