G'day casmack. I have been in that situation with two companies, one has been ICN, I went into them when I was MUCH younger and very optimistic, I wasn't in it "for the story", I was in it to make money. I bought big back then with the SP at it's lowest and continued to add with Icon's progress and even bought some during that hysteria about ATP626!!
I had great optimism about Icon, but, I took a big hit, in both companies, with the GFC, and built a significant tax offset. This was further exposed after the oil crisis effectively wrecked Icon's plans, at least for the foreseeable future, and I sold most of my holdings to "supplement" that tax offset!!
But, I had re-invested the proceeds of both of those loss sales and have succeeded in exhausting ALL of those tax offsets. In fact, just with one of the companies that I bought into and continue to hold. I have similar confidence with at least two of my other holdings, one, starting to make a move right now, the one that I held after the GFC losses and have again continued to accumulate in them with great confidence.
Sometimes we either make wrong decisions, or, fate plays you an ugly hand, then, sometimes you can get lucky.
My involvement with ICN in these later years has just been to support Ray James against, what I considered to be unfair personal criticism. I have trust and respect for the man, without that disgraceful, politically motivated, "oil crisis" we wouldn't be having this conversation. What if Chevron stayed and completed the development of ATP855??
It WOULD have happened,but.....
Icon still has cash, still has a case to prosecute to restore the licence for ATP855, still has that open(mysterious) LOI with 9 trading days to go. It's not ALL OVER?? Or is it?? Yes, a dilemma.
Sell now?? For less than a $3,000???
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