Given Madmin's warnings on defamation I will try to pick my words very carefully.
I have been a stock holder of QMN for around 5 years or so.
I purchased some stock pre-listing and sold a few in the spike to the mid 30's and brought more to average down. I still believe that the leases (but not all) are good. My net holding has increased by over 400% over the past few years.
The company listed at 50 cents (about a year or so later than original planned) and on the worst day to list (GFC day or thereabouts). Since then the shares have dropped and never recovered to listing price.
I am hugely disappointed in the current share price. I have taken many hits on the stock market over the past 10 years or so and made more wins, overall I am well in front.
Over the years I have dropped a number of other underperforming shares and cut my loses I stay with QMN because of the significant potential profit that I believe is trapped within its very poor share price. I have been patient but sooner or later a decision will need to be made to stay with QMN of cut my loses, free up the funds and invest elsewhere.
QMN continues to under perform in my portfolios and if it was to just better reflect some form of discounted inground value then I believe that we should be in the 20-30's.
Generating some cash flow (from third party processing) could further boast the share price. Actual production could see us back to listing price or above (but it gets harder to get back with each dilution).
I have been loyal to QMN because of its undervalued leases, it may well be that the majority of current buyers are existing holders who see a potential substantial gain when the true value of the leases are reflected in the share price.
I believe that QMN may well have too many leases and should moth ball most smaller ones and focus on 1 or 2 top shelf leases. The multitude of leases is too much of a distraction and this is not helping the cause as we seem to make incremental progress on a number of leases without reaching any meaningful milestones on any single lease (whereby the progress could be judged by investors).
At current prices there is very little volume and given the inground value investors should be buying up as much as they can. But they aren't, not even close.
We must ask ourselves why are the leases not being recognised by investors? Why is there little traded volume and no share price appreciation?
The only answer can be that investors believe that there are better returns and lower risks elsewhere. So what needs to happen for investors to return to QMN and see it as a serious developing miner?
I know a number of QMN investors and we all agree on how QMN could begin to regain investor confidence and support?
Newbie Thomas
QMN Price at posting:
5.6¢ Sentiment: Hold Disclosure: Held
