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10:22
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Originally posted by mechanic:
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Korda are there to maximise returns for stakeholders, shareholders are unsecured creditors with no liability for company debts, I dont share the view this was a sham I believe the company were driven to meet perceived timeliness for production and the build of the chemical plant , plans were disrupted, somewhat ironic I was just listening to a podcast where a company will be looking to use Chinas chemical process to produce lithium carbonate there is probably no chance in hell that China havent worked out LPDs process and given they dont recognise patents well what can one say, while the world has been sleeping China and the most unlikely group of trading partners have been building new markets and new supply with no dependency on the Western world, the west are no longer the leaders in any area of growth. I thought having an Australian company with o/s interests might be an advantage as opposed to our domestic market. Well clearly got that one wrong LPD sank to such a low level I didnt consider selling . However on that subject of loss I would like to point out that I held this stock as a trader, I traded it for a time then sat until missed time lines had eroded my capital to live and the share price nonetheless I have paid over a 100k in tax on this stock as a trader my losses if fully realised excluding tax paid will be in the order of close to 300k, there are others who have lost more if the loss is fully realised. The other issue for me personally was the removal of the IRESS Trading Platform which I had used for 20 years. trading provided a good income for the past 8 of 10 years of my retirement which has given me more than this loss over that time , so while its unpleasant and life changed plans are now needed I am grateful for my time spent ,sitting in one stock does not spread risk indeed sitting in multiple stocks in the resource sector will not deflect losses at present I believe we will see the resource sector take quite a battering and given its cold now in the Northern Hemisphere production using Australian based resources will have slowed along with the value of those resources
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just a foot note I am now an investor for tax purposes never really anticipated a loss
(20min delay)