Did the same on another one...sat way too long on NXS, had too large of position, then the dilution came, short attacks, now the share priced is mired down. Mgmt has gone full bore crazy, various stages of activities on five properties and another financing every couple months, near the bottom.
Bit the bullet on some of it and moved to CMB, just financed their drill program, already talking about the next phase, aggressive plan/production of high grade Silver. Old CEO was turfed, he should almost be done, but I believe he had 13 Million shares to unload, SP is a penny above the recent trough, and the best part is these guys need serious dough to pull this aggressive production plan off...expect a good run prior to drill results(drilling should start this up coming week).
Losses no longer really matter if the DD says there is better places to have that cash...CMB 13-14 cts, expecting they need 40 -50 cents to even have a shot at pulling production resource off, recent warrants need to kick in, then the next phase or two could move this to 75 cts-1.00+
The price of Silver started turning as of today, their timing may be spot on.
Still holding some NXS, looking to raise more cash on their next move...dead money hurts, but watching everything run hurts even more, I can't say what to do, we each need to trade our own accts, but I know my decision was correct and CMB has only started to turn;)))
Cheers