My post generated exactly what I was expecting. Thanks to those who replied with genuine disagreement supported by facts, you know who you are.
In terms of your question, I'm in the process of halving my portfolio. I'm keeping half because of the potential but for me the red flags and the risk profile have become too much. It's a personal decision and the old adage is DYOR. I might be wrong and miss out on some extra $$$, but I'm personally concerned with losing it so it's the right decision for me.
To answer some questions I received.
1. Some of his clients bought in because the capital raise was at such a discount that they were hoping for a quick buck to sell once the shares were received. In other words, they didn't believe in RDN or didn't have the risk appetite to stay in RDN for the assay results and just wanted a quick return.
2. He was not trying to get me to sell my shares, he was just sharing his opinion on RDN and trying to convince me to sell my shares because he thinks RDN is not a wise investment. I'd do the same if I met someone who was buying into (for example) Zip at its historic highs. The guy was just being nice, please don't view this interaction through the lens of a slimy or deceitful broker.
3. As much as you all can call me names, question my qualifications or sling pathetic insults, his (and my) concerns are real concerns. There is no guarantee of lithium. The price will likely fall if we find a mediocre deposit. Lithium prices are in the toilet. The capital raise post drilling, lack of visual announcements and silence is concerning. Tonnes of ASX junior explorers relying on nearology plays fail, RDN is no exception.
I'm still invested (50%) because it's worth the punt but it is a huge DYOR.
RDN Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
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