It's easy to say in hindsight that it was a worse deal at 40c a few months ago than at 8c now, but that doesn't mean it's good or bad at 8c now.
The ability to look in the rear view mirror and see that something was bad doesn't mean the road ahead is good. Generally (and this is statistically true), the road behind you is a likely indicator of what the road ahead is going to be like; pick a large number of stocks in downwards trends and the majority will continue on that trend.
I don't think it's necessary to tell everyone that you are claiming to buy and you're going to ramp. You haven't stopped doing that for years. We know.
With a downwards trend on an undeniably terrible chart, a sector in the toilet, an obviously bad upcoming quarterly, a progress update about to be announced which Blind Freddy's dead dog can see is going to be disappointing which is why they've delayed it for so long, a gap at 7.5c which is presumably going to be hit this week, a CR inevitably needed (which the quarterly will make obvious by early next week at the latest), JZ at the helm with a blatant lack of any respect for shareholders, nepotism in the company gleefully gorging at shareholders' expense... it's totally fine if you think it's a great time to buy, just as you were saying the share price was at lows well above 40c, but even if it was worse to buy at 40c than to buy now, it's not necessarily a good time to buy now. While the price/market cap has obviously fallen a lot, the situation with the company and sector has too.
At this point, you can do whatever you like, but *I* think it's obviously better not to be holding while the slow motion cash-burning train wreck is in progress. For *me* it seems like an obviously better option to sit back and watch the carnage from a safe distance, and *if* they can put out the fire, and *if* this thing is salvageable, *and* other people have already put in the dilutive money to pay for that and thus crashed the price, *then* I'll be glad to buy in at a lower price and enjoy the ride back up (which at this point could be something like buying in at 1-2c in 2+ years and riding it up to 6-8c in a further 2-3 years - with significant cash burn and dilution, things can get ugly if delays go on for years). At this point I'm not even sure if that's going to happen at all, but for *me* it seems crazy to be holding while watching the decline and wondering whether it's going to bounce back after the collapse continues, and if so, when.
If you genuinely want to keep buying while the carnage and price drop are in action, hey, power to you. The only reason I can see which would make any sense to buy now would be an expectation that there's a good chance of an imminent turnaround, but that could only happen at this point from a tremendous jump in production, and there are no signs of that, with plenty pointing to the opposite.
Indeed, everyone has their own decisions to make.
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