It does pay to be prudent with such companies and especially emerging technology. As many people went boom to bust as did bust to boom during the dot com bubble.
Yes there is plenty of supply as there are for many metals, it is getting the project going under reasonable economics that undepins this one at this time. As the popularity of Li increases and more players join the market in a few years this will dilute returns and i will have made a nice exit. This project has sound economics, a ready market and near term producer at this stage, so is less riskier than alot of other "trumped up" stocks.
I have found it prudent to take a profit at this point and gone freehold very easily seeing i paid an average just over 30c. The profits have gone into BSL (Bluescope)as a new holding.
I however still hold a few thousand and remain supportive or believe that this company will break maybe the $3 mark just on the existing Li market alone by 2012.
Anyway, good to keep it real, especially expectations, too many companies and threads on HC act like a promotion for a pyjama party like one of the copper plays on here.
GXY Price at posting:
32.2¢ Sentiment: Buy Disclosure: Held
