seriosuly posters, lets not give too much importance to this whole situation regarding the director selling shares-way way too much emphasis has been put on this thread today
all i keep on hearing is people badgering dickson for selling, all the voices seem to be criticising our director for selling and i wouldnt be surprised if the concensus on this thread didnt actualy persuade some to join in on the selldown due to negative sentiment regarding a director selling down his options- SO WHAT !!!
im a holder in this great company and i am not selling down my position just because a director in this company sold out. to be honest i couldn't care less what mr dickson chooses to do with his equities in this company. all i can say is that im in a happier position that I will be able to reap the rewards when the due dilligence and major work around myrtle starts to unfold- something which will make mr dickson kick himself for his actions which forced his hand to sell down his equities.
end of the day, i seriosuly believe some people placed way too much emphasis on the selling of mr dickson which oversold the shares in rxl today causes it to plunge. the way the selling was going today was as if rox resources announced to market that we lost the tenement rights to myrtle or that teck had pulled out of the joint venture.
mr dickson sold- good on him- doesnt mean that the prospect is anymore less commercial or uneconomical to mine. the way the shares got sold down today was seriosuly a case of the nervous nellies and totally unnecessary in my opinion. the only cause for concernf or me would be if further drilling results made teck walk. but its hilarious how a whole trading week can change concensus on a stock when absolutly no substantial bad information has been released to market
to put this into perspective as the saying goes- if your friend was to jump off a bridge, would you follow suite and do the same- the answer is no. so if mr dickson sells out a large portion of his equity in rox resources, will i follow suite- same principles apply- no way - ultimaltly, what should be taken into consideration- which one is more important to the incredible upside to Rox Resources??
a) a director (short term) selling a portion of his equities in this company
or
b) a massive resource giant in the likes of Teck commiting to millions to prove upside potential on a company making resource. need i say, the same resource giant being very optimistic of the mc arthur creek region that conditional on a joint venture being approved, Rox Resources were required to acquire more tenements in a 25km area of influence. Think the answer is quite clear that Tecks millions in years to come is incredibly more important the mr dicksons loose change.
ill just add that Rio Tinto are still on board Rox Resources. Being a billion dollor resource giant, you would think that the highly qualified geos-board-md's and financial advisors to Rio would have already sold out of this company should there be any substantial fundamentals that an investment in Rox Resources didn't offer immense upside and potential take over talks in years to come-
in closing ill just add this piece of information- directors in company are not gods people- just because they sell down there equities in a company doesn't mean squat at the end of the day. the deep pocketed real giants in the resource industry are still sitting side by side with us on this one to give investors enough reassurance that we have what it takes to prove up a potentially very lucrative resource project-
as a lesson- when leighton holding director sold a considerable amount of equities a while back at $19 the market reacted the same way as they did to rxl today by punishing and speculating the negativity by such actions. last time i checked, leighton is still far from insolvent and still hovering around $34 a share- follow your own research not the personal actions of others
fundamentals remain, so to is the upside potential this could deliever-so trade based on the fundamentals not the herd mentality
dyor as usual and don't get persuaded by others emnotions and trading philosophies
RXL Price at posting:
7.9¢ Sentiment: LT Buy Disclosure: Held
(20min delay)