..disaster for Buy and Hodlers. From March 2020 to its peak in Jan 2023, MIN went up 6.36x , holding it to yesterday's close at 2.18x and likely to go down more on this result.
..after a meteoric run, buying and holding for longer does not necessarily mean Better for Longer.
..almost all darling small to midcap ASX stocks that have enjoyed immense following and exuberance implode at some point, wiping out almost all their rally gains.
..you had a 6x lottery gain, but you traded it unconsciously by doing nothing, for a pie in the sky believing it could ASX50 stock until you got absolutely blindsided by a deceitful management (that appeared strong and dependable) and a sector that you should know is cyclical in nature.
Chris Ellison’s Mineral Resources has posted a loss of more than $800 million and axed its interim dividend, as tottering commodity prices, torrential weather and uncertainty over its leadership weigh on the embattled Western Australian iron ore and lithium miner.
Reporting after the market closed on Tuesday, MinRes posted an $807 million loss for the final six months of 2024, down from a profit of $530 million a year ago. Analysts had expected a pre-tax loss of about $400 million.
MinRes also cut its forecast for the amount of iron ore it would export this year. The miner cut its 2025 full-year guidance of iron ore shipments by as much as one-quarter to between 8.8 million tonnes and 9.3 million tonnes.
