I'm such a huge fan of Michael Fotios that I'm still thinking of investing in some of his other companies
- the Boring Drill Corporation and Looking For Stuff Exploration Corp.
Seriously though. I think GG is right. There is some strange brinkmanship going on and no doubt a few are rattled. We should have pounded through 60c this week with the same confidence we crashed through 40c and 50c.
On the other side though at least its given us a chance to consolidate a little and show a bit of resilience.
A few more people, including a few of my friends, have had a chance to get on board before it moves out of reach.
I traded this stock once very early on and learnt my lesson.
I had a profit but it got away from me so fast that it cost me a lot to catch up and I gave up doing it again.
The last couple of weeks are proof of this.
I'm with GG - I think things will turn this week as some profit-taking in other li stocks looks for a solid value proposition on fundamentals. Even better if the shorter ends up buying up everything on the boards. That'll give people another good dose of fomo. No sense in betting against the value on offer here.
You're right. The top 20 control so much of this company - in the region of 40%.
I looked through old reports - it was surprising how few people owned big stakes in it.
I think they're all on board with the longer term vision.
Same as the vast majority of us are.
Fotios is WA mining royalty and this is his next Northern Star in the making.
GMM Price at posting:
51.0¢ Sentiment: Buy Disclosure: Held