Good question dedication! I've actually held LCK from back in the MTN days. With regards to staying strong, I actually have very little emotional attachment to the stock and have traded it over the past few years, always being wary of a takeover. This IMO has always been a takeover target, and I haven't wanted to miss the boat on a few hundred % ROI. Yes, you could basically write a Netflix drama series on the bullsheiße that has clouded this project, and I actually sold most of my holding after the spike last September when they had proven the concept and the market still hated it (Thank goodness I use a trailing stop loss so wasn't punished badly for a parcel picked up on the good news at .29).
I wouldn't say that I'm a loyal soldier of LCK (I dumped my entire position at .22 or something the other week after PCD success, and was trading it since, until, price action slowed from a week ago and I happily accumulated.
With the WA political craziness that's taken place around LNG projects in last week adding to views re: constrained supply, added to all of the boxes being ticked regarding the project, I have built my holding back up to 500k units at avg .207 and have mentally rehearsed (Usually laying in bed or standing in the shower) a few scenarios for the coming fortnight (Built in an extra month because #LCK), so I can pull the trigger on: a 1- A sell off on the news of reserve upgrades of different amounts with NO takeover/ JV news (With a buyback later, it's still a long haul to production and even though the market is "Forward looking", I'm blown away by the gerneral short termism of finance and politics), 2- Initial partial sell on likely spike following news of reserve upgrade WITH JV/TO news, 3- The price momentum following the upgrade (How much to leave as a LT parcel for the long haul and resulting dividends from full production, and how much to leave for trading)
If there aren't industry-related companies looking at acquisitions for growth/ opportunities (Esp someone with cash for special dividends and buy backs) who haven't drawn up plans, pending reserve numeros certified, then the energy and business world is fake.p, and I'll eat my hat.
I'm not sure about other holders, but I'm pretty lucky that I have a busy day job to distract me, where I can still keep an eye on the market and news constantly. It allows one to be patient and switch off when necessary (Esp the past trading week, and previous months and years with LCK ), but still be ready to put orders in if the opportunity/ requirement presents itself. I'm actually going to visit Leigh Creek this year and pay homage to the town for providing such a good trading and investing opportunity! I wonder which beers the hotel has on tap
LCK Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held