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07/05/17
18:23
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Originally posted by Noor444
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Hi,
This is my first post. I never post things online including social media. This time I am so desperate that I decided to ask for advice. I have been working for 20 years and in this time managed to saved $140k. I am the only breadwinner of a family of 5 and certainly never have extra money for any luxury. We managed to buy a 3 bdrm house (less than 100m2 living space + one 20m2 garage) relatively far from the CBD with a fair bit of the mortgage still owing. I must stress than I am certainly one of the dumbest person in the world. I suck at everything I do. Anyway, a couple of years ago, I read an article on Andrew Forrest whereby he was very positive about POS. Based on this, I decided to invest all of my savings into POS (paid 13c on average). My thinking was Mr Forrest was a well-known philanthropist . He is always helping people. Just imagine what he can do for those who help themselves. Anyway, this was the thinking. Two years on, I have lost almost all of my savings. I have three little kids and when I invested, I was hoping to be able to give them a better life. As things stand, I have lost almost all of my investment and with nickel outlook being so dim, I have almost lost all hope. I know Mr Forrest has unwittingly enticed me to invest in POS. In the future, I believe he needs to be very careful with what he says as there are people like me who value his advice very much. I am certainly not angry with him as it is only my actions which landed me in this mess. Now, I am quite desperate. The only thing that gives me strength is that I know three little beings depend on me to eat, etc. I cannot let them down. May be some other readers are in the same predicament? Can anyone tell me if there is still hope for POS to make it? I have stumbled on hotcopper POS I think a few weeks after I invested and I found it interesting reading. I have understood a little bit more what is happening. What I do not understand is why do we have a top heavy company with management earning massive amount of $ on the back of nobodies like myself. What are they doing that justify such a financial drain on a company that is almost bankrupt and not producing anything? Why do we need so many of them? To the POS management team, I totally understand that people have to earn a good salary when they work hard for the benefit of shareholders. I know I am very dumb, but can you kindly explain why you people are earning so much with POS almost bankrupt and whilst doing so making people feel so trapped that they have no way out? Is it possible for POS management to decrease their salaries to reflect the current market conditions? I understand some of these massive salaries are paid in shares and not cash. Is there a way of decreasing the salaries for those taking payments in cash or shares? I will also like to thank all the posters. All these posts have been really good and I have learned very interesting things here.
Thanks
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Hope it works out for you Noor,
I can't give you any advice as this is high risk and at the spec. end of the market. But hoping for a spike something this year (not sure if it will be like last year but we should get one as we have for the last 10 years) may be a way out..(maybe..)
IMO it will take a few years for nickel to be viable for pos, and that's if pos isn't diluted to death by the time it happens.
And no need to be too hard on your self, we all make mistakes and the most precious things in life aren't pos shares. Family and health I'm sure will top the list, and your time is worth more than money to them.
GLTAH