Thank you Tree and Cap for taking the time to respond to these questions.
Both your views align very closely with my thinking.
Pro cap you have even made it very clear you are not happy with what's gone on here and I can't remember whether you sold out or not and are just holding RIL these days.
But for you
@UtopianSX you can see from Procap that even though he might be negative on chris or the company that it is delivered with facts/ or even logical thought out theories that add to the conversation. Crabpest is in a similar boat and no longer holds but still adds value to the conversation when he decides to contribute.
No one is said you have to be Pro the company. But repeating the same one liners a few times a day every day without adding anything new is more like just having a whinge or a deliberate campaign to spread FUD. You say you have been here for 6 years ( far longer than me) so If you have genuine issues with management call them or email them, They work for us, even if it doesn't seem like it. I have never had a chance to speak to Chris but I have spoken to Jeremy on a few occasions and every time have felt better for having done so. Obviously you aren't going to get anything market sensitive out of them but if you pose your list of questions to them I'm sure they would be happy to answer.
I'm happy to be the first to say, and I'm sure many others here would agree, I'm also pissed like you. I'm pissed at the SP, I'm pissed that so many of the projects have been put on the back burner (whether its the company's fault or macro, or combination of the two). I'm pissed about the delays ( I firmly believe a lot of that is out of the company's control when dealing with other companies) I'm pissed they had to cap raise at such low levels. But it is rare you ever cap raise from a position of strength, so there is no way someone is going to underwrite or organize the cap raise for you without wanting their pound of flesh and thinking they are going to make a tidy profit.
Above all else though do you know what I'm pissed about???? I'm pissed that I didn't have the experience to take profits when the price was near $2 despite the fact that all the projects were still so far from revenue. I'm pissed that I knew how sour the macro was turning and didn't take profits when I knew financing was going to be harder in the new financial environment. I'm pissed that I went so hard in building a position so quickly, Being early is almost as bad being wrong.
All of those things however are on me.
A learning experience that could have cost me dearly. But I don't know that yet as I still believe in management and I honestly think they are are trying everything they can to get these projects across the line. So now the question for me is average down at bargain basement prices or do I think it could go further south? I did do some very rudimentary charting about 5 months ago when we were in 40's Which was my last top up and at the time I think the resistance levels showed that if it broke there it would end up in the low 20's and that's what's happened. I haven't had a good look at the charts again to see where I think the next levels are as I haven't got the cash or confidence to add at this time and that's why I have set my sentiment to hold. Its funny because if I could start accumulating here I'd think it would be a great price, but unfortunately I don't have that luxury. ( maybe that's the exact thing that tells me I should be averaging down).
For what its worth too I don't think they are deliberately keeping potential customers from us, There would definitely be NDA's when dealing with the OEM's about partnerships and offtakes and they are well known to be not very friendly to the little guy which we are until Merc or Stelco sign up for a commercial plant. OEM's will try to screw every last dollar out of you so I'd rather NMT management didn't just sign something so they can say they have and then have to deliver on a $hite deal for the next 20 years.
Also I think you'll find that while management are unlikely to take a paycut the Removal of resolution 4 before the AGM was a sign that they are serious about not taking the piss. Whilst it might not go far enough for some holders, its better than nothing. And for the lithium pivot, As i've mentioned before I'm not thrilled about it but if it proves fruitful I'll be the first to say I was wrong and it was a great idea. If it provides an income and prevents another cap raise just to pay wages before we have to make a substantial business decision ( for example I'd be ok with a cap raise to install and operate our own plant if the metrics stood up) I'd be ok with it.
After reading the above I hope you understand a bit more where I'm coming from with my earlier post that was directed at you. Do the things like calling management or if you've lost faith reduce or sell out completely rather than complain every day about things you do actually have control over.
Hope you and all the other holders have a great weekend and try forget about some of the shit storm brewing in the red sea etc as we don't need any more setbacks due to someone else's greed and war.
Cheers
