Stock Price vs BusinessHere is something true -- all of us on this board are investors. I would bet the majority of us own stock in CRE...maybe a few have shorted and are not owners but sellers hoping for lower prices. In either case - most only care about the movement of the "stock". Generally - when it goes up all are happy and when it declines all are pissed off and nervous and pissed off more and and and....
It is human nature to look for something to blame when things are not going well -- and sometimes the blame has some elements of truth to it....like blaming management for not communicating, for not getting a deal done "on time", for not drilling more, for not managing the cash better, for not getting permits quicker, for not securing the reclamation plan sooner, for not making a deal with our Cree partners faster, for not inventing the iPhone.....you get the drift.
Allow me to remind us all of a few things:
1. The entire market has sucked for the last month or two.
2. We (longs) own an incredible asset that is in great demand
3. The stock market is controlled by emotion and momentum - very rarely is it fundamentally driven
4. Yes - there have been missteps. What company does not have missteps? Will they fatally impair our ability to cut a deal based on long term contract prices for Li - of course not.
5. Maybe the lawyers have told our Mgmt to be quiet during this period -- you have to believe they are deep in negotiation or paperwork.
6. Anyone who has done a small business deal knows how complex even small deals get -- think about structuring something with equity, debt, Federal Govt, Provincial Govt, Offtake partner, Operating partner....gets complicated and takes a lot of time.
I could go on and on....I am not blind to the fact that our stock is down, I am also not happy - no one is. But I am very aware that I own a piece of an incredible asset that is in the midst of late stage negotiations to unlock tremendous value.....if that fact eludes you -- honestly, you should sell and move on....perhaps buy a bank, or a tech company.....;). We who stay here are BUSINESS OWNERS -- we own a great business and a great asset. It is simply a matter of time until we see our payday.
I fully expect the regular responses criticizing the mgmt, criticizing any positive outlook, critisizing the missteps, critisizing the fact that i am not hammering on the mistakes made....honestly and i mean this really with no disrespect (maybe just confusion) -- if that is your true feeling you should listen to your gut and sell....why be an owner in this business?
GLTA