I've sold out too today, I hope for the best for people here, but I hope that Luso goes bankrupt and Portugal overall develops its lithium industry poorly.
With the exception of foreign companies of course, Portugal clearly deserves not to own its own Lithium companies with the horrendous incompetence and unethical behavior they've displayed so far.
If you're reading this, Luso sympathizers, one of my two native countries, Norway, managed to develop its oil industry while soliciting both private and foreign direct investment, without screwing over the foreign companies. The rest is history, as seen by the largest sovereign wealth fund in Norway.
Portugal? Well, with companies like Luso convincing the judiciary to torpedo their own development I believe China and South America will take up most of the slack over the next several years. That's not to say Portugal won't have a place, but it'll be below their resource potential.
Bitter? My investment was around 1% of portfolio and I only lost about 25% (while doing very well in other lithium stocks before pivoting to cobalt in February). I'm mildly annoyed, mostly at that poster we used to have around here.
I'll be happy for you if I see NLI resolve its problems with Lusorecursos with a compromise. I suspect it may happen any day soon, due to confidentiality talks keeping anyone from talking about it. That said the company has been horrendous about communication and I can't reward that with continued faith, not with several very promising cobalt juniors in Australia and nickel juniors in Canada developing their assets.
I do sincerely hope NLI equity holders make good on their investments, but a 25% loss on 1% in a very aggressive position isn't enough to be too bitter about if it explodes after leaving.
I even more hope that Luso gets nothing... but that's just for the sake of the World and Portugal and would help mildly annoying me again despite my happiness for you all, and thus my personal preference.
But seriously, Good luck!
(20min delay)