non holders. announcement day 11/4

I was just breezing over the hotcopper threads on the day of the announcement. It reminds me that when things are emotional and happening quickly, it is still worthwhile listening to the views of non-holders. It isn't all down-ramping. Often it is experience and genuine concern.

After the initial $6bn announcement, many warned of buying too high considering the run that that already occurred. Koko was one, while sus said 'People remember, the past 3 year, this share were bought for 0.001, 0.002, 0.003, 0.004, 0.005, 0.006, 0.007, 0.008, 0.009, 0.01, 0.011, 0.012, 0.013, 0.014, etc....so alot of profit taking now.....dont buy too high....and PDY is only in PFS not yet BFS......'

As trading went on, grantjo highlighted the 'huge dump' and many other posters made predictions that the share price would drift lower given the number of shares on issue, the lag time between announcement, construction and actual financial benefits. Supermajor, you had many insightful comments and yesitsme did too.

Posters even supplied news articles that highlighted the fact the government was not consulted and not adding in money to the project.

Insideman, even you as a holder had niggly concerns stated in a few posts, especially about the financier, stating 'bob can you maybe help me understand why the investor wants to stay secret thats got me scratching my head'.

Once in a trading halt and nobody knew why, capex picked it perfectly, saying 'my guess it is a clarification of the announcement - it was extremely thin on detail...next most likely - an aware query, given the price climb prior to the trading halt'.

But overall, points for accuracy needed to go to zero2a$mill. I don't necessarily like your posting style, zero, or your need to post ad nauseam, but you did warn the faithful many times. I particularly liked this comment when your motives were questioned,

"I cant believe some people are so cynical."

Try realistic.

Anyway. Hotcopper is influential and I often re-read its threads after a major event. You get to see the emotion involved in trading and the posters who get it right and wrong in real time events.

Milesy