People love to come and tell stories about how they sold out and look at the price now, blah blah blah. Even, it would seem, those who spearheaded particularly nasty campaigns against other posters when they didn't align with their previously bullish sentiments or agendas.
But what can we expect? Not much more than that it would seem.
I've said it before, everyone has different timeframes in mind, everyone has different trading strategies. Everyone has winners and everyone has losers.
People take far too much pleasure in the misfortune of others on these forums, it's little wonder there are a bunch of posters (lurkers) who just read and don't participate.
One thing I've learnt, and learnt very quickly, is that it's generally best to do the opposite of the overall sentiment on these forums.
When sentiment is low, people are complaining, people are selling out, people are fighting - it's generally a good time to look for an entry (the challenge is picking it, of course).
When people are screeching with excitement, talking ridiculous target SPs, patting each other on the back - it's generally a good time to look for an exit (or at least a free-carry).
2.5 years+ and $9m+ left on the fortrend facility and there's no doubt Citigroup are having their way with the SP. I suppose we can hope IK is aware of the effect that these every-couple-of-week drawdowns are having and will continue to have.
Couple of things I'm interested to find out soon.
1. The Mt Mulligan work plan. Presumably once the ATP is granted, they'll be able to start drilling pretty much straight away. They must have already lodged the work plan as it's a requirement to get an ATP. I want to know where they are drilling, how much of the area around the mesa is off-limits and how much of the 100-500m tonnes exploration target is off-limits. We are still none-the-wiser about that, even since that awful NP announcement. They keep saying the exploration target is 100-500m tonnes but also that the primary target area is 'currently' off-limits.
2. The plans for the existing LV tenements. I'm off the view that the desktop study is probably finished (or very close to it) and they are just waiting for the native title processes to conclude and for the outstanding tenements to be granted before being able to announce the plans. I would like to see the annoucement that tells us the tenements have been granted accompanied with a plan. I imagine we'll be targeting both black and brown coal areas.
I've said it before as well - you have to give people a reason to buy.
I can't understand how the Directors can be surprised at the state of the SP. You have to give people a reason to buy.
Who knows, maybe I'll win lotto, become a CSI, and fortrend can go bye-bye, lol.
I'm on holidays now, huzzah, have a safe holiday period everyone.
MNM Price at posting:
6.2¢ Sentiment: LT Buy Disclosure: Held
