RE:Cheap FUN................Red_Deer wrote:
This should be exciting times for me now after throwing away a small amount of cash to snag 200k shares @ 12/12.5 cents today knowing full well that the odds of winning this one will be about the same as the LOTTO 6/49 eh!
I dunno, Red. I'm cringing as I type this, but I don't think there's much downside from here. I.e. I think you'll do just fine with some patience. I've been buying smaller lots all the way down. Wish I had waited until now to start!
I suppose it could always go to zero, but there are some credible names attached to this. It appears the company was banking on that Chinese investment, and the rug was pulled out from under them due to the dwindling Chinese spot price and general market sentiment. You're taking a leap of faith buying here, but then again, you were the whole time.
Have a small position here (that keeps getting smaller by the day), but I'm buying SQM, NMX, and LAC who've been beaten up considerably. Both NMX and LAC have financing so will not need to raise equity in this market, and have significantly de-risked their respective projects. Not soliciting, just explaining why those companies (IMHO) are safer bets.
Desert Lion has now ceased operations and has yet to release a resource or PEA, scary days, indeed. GLTA