RE:Re:Alwayslong martin,
I agree patience is the game. Thus, I like to look before I leap, and I think the sweet spot to make an investment decision on TLG is at some point during the home stretch of the financing / contracting / permitting process, then selling around first pour. That way, you can see how management is doing re. moving the project forward before deciding whether or not to buy shares. With TLG right now, you've had missed deadlines, less than accurate information presented by the CEO IMO, and have no idea what the FS will show, the terms of the JV agreement, what kind of agreements the company starts signing re. financing and contracting, etc. I'm a Lassonde Curve Stage 4 investor when it comes to junior first mine build companies as I believe it provides the most upside while keeping risk to a minimum.
There's a difference between being averse to a sector and sticking to your buy and sell strategy within that sector. With junior golds, it's about your average price per share, the amount of time you hold on to the stock (no dividends, time value of money, opportunity cost), and your selling price. These are not buy and hold companies IMO.
I did very well with NFG in early 2021 (Lassonde Curve Stage 1 - see past post). In and out much quicker because it was an exploration-stage company with no MRE (still is), but the frenzy during those few months when they were repeatedly knocking it out of the park re. assay results made the stock way overpriced for the point at which the company was at, so I sold my shares in two stages.
I remain interested in a large, one-time purchase of TLG shares, but I want to see not only the FS, but also how management performs over the remainder of 2024, particularly progess on early financing / contracting deals and the terms of those deals before I make my decision.