And that is the point!!
It is not GXY-specific failings but an industry wide phenomenon we are enduring. All this whining about what Simon or Anthony or Martin have or have not done is superfluous as the real story is what is happening industry wide. we are seeing companies fold, we are seeing mines enter C&M, we are seeing companies throttle production etc etc.
So why the venom towards GXY specifically??
When all is said and done, many of us longs simply believed the Li growth story above all else and ignored factors such as production ramp-up woes, financing commitments and obligations (eg debt covenants), industry gaming (read Morgan Stanley, Mac Bank etc), the "China effect" (withdrawal of subsidies, rapid ramp up of conversion capacity etc) and a host of other market influences.
Essentially, we need to be a little more broad-minded when assessing our investments. Something (I know) I didn't do when falling in love with the Li story.
Now is not the time to take out your frustrations on the company. They are simply caught up in the same machinations at the rest of us.
Just be thankful we are not holders of A40 or Nemaska or ...............(whoever is next to fall over)!!
GXY Price at posting:
88.5¢ Sentiment: None Disclosure: Held
