Post by
mrmomo on Nov 07, 2019 1:02pm
Ouchh.....what a disaster!!
Writing was on the wall for sometime on this one. Not sure why some here kept on pumping/pushing for people to continue buying irregardless of some of the very disturbing issues with this company and its prospects going forward. Investors here should have heeded the first warning signs sometime ago when cobalt/coper prices collapsed. It just got progressively worse from there. Price destruction like this will take years for recovery to even start and that's IF the company is still a viable operating business. I think the only hope left here for the minority s/h is that someone (maybe Glencore) picks up their remaining stake and puts an end to this misery. Unfortunately, even in that scenario the s/h probably won't be none to happy with what Glencore or somebody else is willing to pay for that stake. Sad to see this, but i can't say the warning signs weren't there for well more that one year. Investors have no one but themselves to blame if they totally ignored those red flags. These are the risks you take when investing in the stock market especially speculative juniors and even more so with those micros in distress.
Good luck to all