A40 0.00% 8.2¢ alita resources limited

It has been the most frustrating stock I've ever held. From...

  1. 1,548 Posts.
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    It has been the most frustrating stock I've ever held. From being in at the start when TAW had the project vended in at I iirc around 8c was the share price back then. Bought over 1.5M shares at 8-10c. Loaded up as many as I could. Rode it up to 50c+, exited a portion in the 40c range on the way back down. Watched it fall all the way back down to the teens with the Li price crashing... but the most frustrating part was the debt. To have lost company at the time over such a pathetic amount of debt (what was it, $30M at the time?)

    To think there were no other avenues to explore to keep us alive... no attempt at a cap raise / restructure. No attempt to sell off half the project to pay down the debt... no attempt at anything... still doesn't add up even today.

    If we had kept the mine in care and maintenance during the low Li price period then this would have been a $2-3 stock a year ago, even with the dilution we would have had along the way to keep it alive. Unbelievable turn of events really. Then the chinese milked it for hundreds of millions (maybe even in to the billions) in profit during that Li price boom period and all we're left with is the tax bill. Unbelievable.

 
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Currently unlisted public company.

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