Js2010copper, I have owned shares in this company for a few...

Js2010copper, I have owned shares in this company for a few years now and I am unwilling to hold these shares long term. I bought into the company first on the fact that I thought Andrew Forrest would be able to move the project forward quickly and that I have spoken with Mr Hutchison personally on a number of occasions and he was always talking the company up.

I will be selling all my holdings within the next 2-3 months regardless of profit or loss. As I have said previously I am moving my wealth into property which I will be developing and building myself as with this type of investment you have total control and you don't have to rely on the decisions of directors.

I believe this company won't be forfilling any of their promises in the near term. They have advised the market about completion dates for many different things which they have failed to deliver on. This shows to me that they aren't the great team Mr Forrest claimed when he assembled the board when he joined the company.

I am disappointed in my own judgement when I had the choice of selling my holdings in either Regis Resources or Poseidon Nickel back in 2010, I chose to back Mr Forrest instead of Mr Girogetta and it was the worst decision I ever made. Mr Giorgetta has turned that venture into a billion dollar company and taken the shareprice from sub ten cents to more than four dollars, where on the other hand Mr Forrest has not produced any value for Poseidon shareholders and in fact has eroded our wealth and actually made it more difficult for long term holders to gain any capital growth.

I was warned by a stockbroker friend before I invested in Poseidon to not back Mr Forrest as he was all smoke and mirrors and only acted in his self interests. I believe after the performance of himself and his management team with this company I should've listened to him and taken his advice. I would be a heck of lot richer if I had done so.