Post by
metalhead666 on Mar 13, 2021 4:20am
When in doubt...GET OUT!
Greatest lesson I ever learned the hard way.
It is almost NEVER a good idea to talk yourself into staying with a position when your original thesis and expectations have been dashed. Turn around stories are one thing but when you are told directly by management that there are "issues" you should absolutely never dismiss them....shoot first ask questions later.
This isn't over for MIN. All the issues raised in the CRUX piece are still valid concerns. In addition you dreamers will face the prospect of a general market dump, a pullback in the copper price and a total lack of clarity going forward as well as zero promotion efforts and the old "once burned twice shy" psychology. There is absolutely no case to be made for remaining in these shares and plenty of risk still to be wrung out of it.
How many "flush" cycles will each well require? You don't know because the CEO doesn't even know! It could take months and months and all they have is some data showing that it appears to work. This should have known BEFORE they sunk the first well. Had they built a pilot plant to test the project like Taseko did they could have avoided this...the FACT that they didn't and now, after bragging about the 1st truckload of copper, have a long unproven road ahead tells you about the quality of their judgement and decision making skills. They blew it and they didn't tell you until AFTER they raised a pile of money at YOUR expense.
And you're still willing to trust these people? Use some of you money from selling the stock to see a shrink! You have judgement issues yourself.
In mining...ALL MINING...there must be a clear path to production. There can be delays and that's to be expected but FUNDAMENTAL "issues" with the concept are NOT acceptable. There ARE fundamental issues here and if you delude yourself into thinking otherwise and refuse to accept a loss you'll almost certainly face an even bigger loss in the days ahead. ALWAYS think risk first and reward last. Once your capital is lost it's lost forever.
When in doubt...get out! It's served me well for many years. I have no shame in admitting when I'm wrong about something and usually save myself a lot more financial pain by respecting this slogan.
Comment by
dollpartz on Mar 13, 2021 12:18pm
I don't get you, sometimes you sound composed and intelligent, and sometimes you sound half-demented .. ugly deposition and taunting.. you drink? Anyway .. ya like I aaid I koew in March things were gonna got rocky so I bought CS to balance it .. and as to somebody mentioning IVN, ya I considered it, but I wanted a producer to balance this.