I just bought more for 3 reasons. 1. Sentiment is horrible,...

I just bought more for 3 reasons.
1. Sentiment is horrible, people are put off by losing money everyday but ultimately its IO price that will determine the profits here, I might bhave jumped the gun too soon with some shorters getting caught etc but if the IO price holds its irrelevant
2. I've noticed many of the insititutions don't like how with FMG management has no control of pricing and its own destiny. They also don't like that the price will go down because the value here is in the next 5 years not beyond. Maybe its hard to sell these things to the end customer by advisers but again this negative sentiment is irrelevant in the long-term
3. The prices above $150 were always temporary and fanciful. Twiggy knew this which is why he wen for dividends and holding cash not buying Woodside or opening up new mines. The market agreed which is why FMG never went past $25. At any price over $80 never mind $120-$130 FMG is prnting money. THe upside here is huge, the downside is IO at $40 and FMG at $5 per share, which even in that scenario it makes Guinea, PNG unviable.

If your not interested in pretending you invested in XYZ because you know something. If you understand that this is pure gambling with good odds unless your in Xi Jinping inner circle then FMG is good value