this could be a big problem going forward. I was a long term holder but got out because of this, whilst the WA government may protect the port allocations for the juniors, any questions about cut backs raises a huge issue for me and is the one thing that can blow the whole fundamental argument out -that this is even being discussed is a huge issue IMHO. If there is a cut, how much would Atlas's port allocation be cut and how does that impact the overall arguments. According to the article the authority would also want the companies involved to relinquish their south west creek space by 2025. Whilst that is a way away, this type of thing doesnt feel me with confidence anymore.
Basically however I feel very sad, not for me because I didnt lose money on Atlas, I feel sorry for investors who have lost money over the last 12 months in Atlas.
I have my views, but for me, it wasnt just the big boys who turned this stock to crap trade wise, yes they have probably done most of it, but when the day traders came in here and started playing it for the small moves, it was the begin of the problem. Anyway, as someone wrote alot of people who invest in markets will probably not ever invest again, as for me, I will invest, but if I see the names of the hot copper day traders appearing in forums of companies I will be selling out the same day.
And one more thing, the company Atlas itself has alot of explaining to do, they went on a massive spree buying up companies, issueing new shares etc to pay for the acquisitions. Atlas shareholders won nothing over the last 12 months, they lost money, the only winners came from outside.
Add to My Watchlist
What is My Watchlist?