Well you were right on this one for sure.
First time when I entered AGE was in May this year. I was buying in 2s and I remember there were few posts by doogs and the content and language was exactly same as of today. Anyway, I did some pros and cons and bought. First lot I sold in high 4s which was one bag for me, and exited completely when I realised there is going to be a CR.
Nex time I was buying in August this year.after the CR. I remember he appeared again in August after 3 moths and the content of the posts was exactly same. The price was crashing due to CR and some day when it was around 2.3c, which was near lowest it went, there was again some posts to announce the doom approaching. I even bought that day, based on due diligence I did on risk reward. Although I still hold quite a few shares, but because I trade shares as well, I may have already bagged couple of bags.
Today after 3 months he has appeared again and the content of the post is exactly similar.
There were 2 things I remember - one was on the feasibility which he has again touched on, and second a financial advice on the impending doom. There were categorical statements and advice to not hold these shares for more than 3 months. And coming from a geo or someone knowledgeable, it was a very threatening situation, when someone is advicing to get out as soon as possible. There were talks of reaching out to Greg and clarifying the issues raised, don't remember what happened.
I always respect people who have subject matter knowledge, though whether I accept everything will depend on a number of factors.
I initially thought the person does not hold any shares so is more of a social service person. But then I saw that person holds shares elsewhere. Now, why do we hold shares-I think to make money. If I had listened first time and not bought anything, then I would have missed 1 bag. If in those trying situation in August if I had listened, again I would have missed 2 bags which I have bagged, plus my current holdings which are also in front. So although advice was prudent, it was not backed by definite materials to validate it. Based on what has transpired in last 6 months, it would have been a very bad financial advice, going against the fundamentals of why we hold shares.
I would expect the person to provide materials to back up the statements, or even approach Greg or someone in AGE so that they can save millions of dollars drilling for nothing. We all would be interested to know more. Regarding providing financial advice, whether to hold shares or not, unfortunately those advices in previous months didn't work out, so should think again before providing further financial advice.
So let's see how we go. AGE has hired good geologists who are looking into this. The person could well be right and future could prove that, but at this stage I am relying on Greg and AGE geologist and will wait on that. Also if its such a simple thing and so evident, I would have thought it wouldn't have escaped many others, but have not seen this talk. So happy to hold and play out this, but will keep that in mind.
(20min delay)