I feel your pain - having been a shareholder too long and have ignored many basic trading rules in doing so.
But I can't help feeling that yours is a decision of the heart, not the head, and perhaps a part of the final stage of a bottoming process - capitulation.
Although SLR appears post-menopausal and withering on the vine, in fact, it's now in a post-crisis consolidation phase and a safer company than ever before, grossly mispriced by the market, and hence has a Buffett appeal ?? ( buy when others are panicking, sell when euphoria is everywhere)
The fundamentals are strong albeit not the best in class, and where the 'exciting' growth will come from remains nebulous, but SLR self-reliance is now well established and hence its ability to take carefully consider opportunities not inconsiderable. Cool Hand is very definite, that he doesn't clutch at straws or partake in bubble mania. With a much reduced institutional presence on the share register, SLR is vulnerable to a low ball takeover .... and with no debt, a modern and central processing plant, and increasing high-grade reserves, it must surely be tempting ?? SLR's net asset backing is now <$100m !
As I've said previously, I believe that the SP will remain below par until the MC is greatly increased by merger or acquisition, and then it will be an automatic inclusion in the ASX 200 and institutions will once again own it.
Obviously, if the SLR management is sitting on bad news then all bets are off, BUT Cool Hand has repeatedly stressed his strict adherence to ASX rules and regulations and would not do such a thing.
Still, he could reassure the market and shareholders .... so why doesn't he ??
PS I have changed my sentiment to buy from hold and bought another 200,000 at 35c (please don't tell the wife)
Expand
