Please DYOR, I am averaging down my position as nothing has...

Please DYOR, I am averaging down my position as nothing has changed from my perspective. I typically will buy a position with the intent to buy more if it falls to capitalise on short term pricing pressures. We still have heaps of cash, good prospects and good ethical management. Management buying on market recently also gives me good confidence and conviction to keep buying. Hopefully big Tony has been snapping up stock today in our most recent fire sale.

I typically buy to reset my cost base as well and buy multiples parcels as it gives me the ability to pick and choose which parcels I want to sell in the future.
For example, when we eventually move upward I may offload a few of my higher priced parcels to remove some capital off the table but we will see what happens, these will be above my average cost of capital though to ensure I am not losing any money. Overall I am down on my position but that is okay, as I consider the loss to be temporary due to the business fundamentals remaining the same from when I initially bought in. I suspect a lot of holders are down on their investment here as we only recently raised capital at 11.5 cents. It shows you good management, as they managed to raise money at the top of the cycle which puts us in good stead for the future.

I am surprised we keep having sustained selling pressure but sometimes that is the market and people are fearful when stocks are falling, I am the opposite, that is when I do my buying. I intend to hold this stock for 1-3 years and I will only sell on a couple of reasons, management change or do something unethical, business fundamentals change or I have made a significant return on my investment. For all our sakes, let’s hope it is the latter because that means we all have done well. I also am a big believer in honesty and integrity and I will disclose when I have offloaded my entire investment here. Cheers, CP.