I think holders like myself need to face the music.Shorters have...

I think holders like myself need to face the music.

Shorters have had a better grasp of the market than holders for the last two years - I currently see no reason why this will change in the near term.

I have said for a long time, PLS was way overvalued relative to how GXY was being valued. It now seems funny to see PLS fall back to earth but somehow GXY fall's further.

Here are some realities I have come around to in the last two weeks:

• 100,000 tpa LCE that the board was peacocking around at the AGM is a cruel joke to woo a few more suckers a bit longer - when you think about how the BOD explained this for their 2025 target to do this from existing assets - apparently 25,000 tpa LCE is coming from Mt.Cattlin!....in 2025....when management themselves have said that Mt.Cattlin mine life is around 5-7 years at best. Seems this logic has not been challenged?!
• The BOD may not have technically lied but they have indeed been less than completely open with the truth. There has been lots of statements of intent which when you carefully analyse them have had plenty of outs but have been sold to stockholders with specific intent.
• It's very clear now that I look back that there was friction in the board. Suspect there is truth to the story that AT had a buyer/partner lined up for Sal de Vida and Martin Rowley overruled it. It's highly highly unlikely that GXY is going to get anything significant for SdV now or in the short/medium term. Oh and has anyone raised how Rowley's son has a cushy high paid job looking after investor relations when you cannot even get an email response from what was once a billion dollar company?! Amateur hour, or it says a lot about the BOD.
• AT taking his free options and referring to those as his 'buy' at the AGM - speaks volumes, yes he could have taken cash, but he's also not investing more into GXY
• That the BOD are not consistently buying stock with their hard earned, and in significant quantities suggests a bottom has not been found

I'd suggest the bottom is somewhere in the very low $1's. We watch and wait.