I have just read today's investment update which has left me very concerned and ill-at ease about Acorn.
Exploration in the resources sector is inherently speculative and extremely higher risk - no matter how fantastic Acorn thinks the exploders' personnel are.
Exploring in West Africa and Ecuador only adds to the high levels of risk.
Highly speculative gold exploration is not what I envisaged when buying Acorn. I don't recall seeing that being part of the company's investment philosophy as shown on its home page .
Invest in Australia
Grow your wealth as you grow Australian innovation
I would dearly love to exit the stock but unfortunately it continues to lag well behind its IPO price, while its performance has not out-matched its benchmarks.
I have previously called for the fund to be wound up - it is too small and its NTA discount has been too large for too long.
After 3 years suffering by shareholders, it is time for Acorn to fold up its tent.
ACQ Price at posting:
93.5¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)