OK if we are going to be all pessimistic on IGO, let's at least look at the market in general (I'm looking at you Private).
IGO ran to a yearly high of $17.32, low of $11.02 (hit today)
AKE has had a yearly high of $17.04, low of $9.80 (currently sits at $10.69
MIN yearly high of $96.97, low of $60.78 (hit today)
CXO (although much smaller in market cap and development) yearly high of $1.87, low of .33c, currently 35c.
my point is ZOOM OUT, look at the whole market.
lithium stocks are getting smashed across the board.
Private would have you believe it's only IGO and continually brings up their disastrous purchase of WSA, but this has all been disclosed, and hopefully taken into account.
Im not sure of his motives, but he is a strange cat!
So on a peer analysis, I would say that we are no worse off than some of our competitors.
If things are so bad for lithium, then let me ask you this, why is Aberbale looking to purchase LTR for double what it was trading at 6 months ago.
I'll tell you why because they are looking long term.
so you can listen to private who constantly bags IGO, yet disappears when price heads North, only to return with the "I told you" rant, whilst name dropping LEG nearly every chance he gets (yes private we get it, you are in LEG),
Also not sure who Privates new mate is, but I'm guessing he will hang around whilst price is low until he picks up his shares cheap. Seriously if you were really thinking about selling your shares, would you keep posting about it....???
At the end of the day, every investor needs to make their own decision.
why did you buy IGO in the first place?
I'm not sure how long this rut will last, but when it turns, and it inevitably will, I don't want to be on the sidelines regretting that I sold out.
Im not advising to buy, but unlike Private and his buddy, im not advising to sell either.
I admit it's no fun seeing blood all over your portfolio, but that's the market. Nothing goes up in a straight line.
Ive lost a good 30g on paper in the last few months but Im happy to wait it out. Games are definitely being played.
Remember if price of lithium stays low, yes our profits are less, but there won't be any new mines coming online either, which means less supply which in turn leads back to higher prices.
Expand
(20min delay)