I guess this is a case of glass half empty or glass half full.
I agree with you that the persistent bashers are a curious phenomenon. Regardless, I don't want to become so deaf to criticisms of CUU that I might miss out on some legitimate questions.
You mention that we didn't plunge from 35 cents to 5 cents. No race to the bottom.
Apparently there are investors here who find some consolation in that? I can find no solace in our current 14.5 cents. No small mercies.
When someone dared to predict we'd drop under $1.50 or a dollar years ago, there would be this mob mentality and that would usually result in a ban. Sure, they didn't always justify why that might happen but just the audicity for anyone to dare suggest the mighty CUU might tumble would get lots of people frothing at the mouth. Believe me, I was one of them.
Now we're at 14.5 cents!
There were a few longs who bailed out after the BFS while we were still in the 80-cent range. Lots of other longs expressed their dismay and some even questioned whether those who were pulling the plug may have been bashers in disguise all along.
Now we're at 14.5 cents!
Who's to say we're not on our way to single digits anyway? It's just the slow-drip method instead of a quick fall off a cliff (we've already descended a long, long way).
So why am I still here? Because I believe there is tremendous value in Schaft Creek.
I don't know when a buyout might come -- it could be tomorrow or it could be a few years from now -- and I sure don't know what the sale price might be. I am keeping faith that Ernesto will ride out the ugly macro environment and get a fair price for this tremendous asset.
Other than a snap buyout, does anyone see any catalysts that might come down the pike over the next several months that will propel us upward? I don't unfortunately.
That said, resource stocks are what I follow most closely and my alternative choices don't have great near-term prospects either.
So I'm going to stick with the one that brought me here. But I can't pretend that where we're at isn't a hellish place. And how long those flames lick at our feet and make us feel extremely uncomfortable is anyone's guess.
The bashers can continue to make all the noise they want. We can choose to ignore them, ban them, trade barbs with them. Doesn't matter.
We're at 14.5 cents. Maybe they are loading up while bashing. Maybe they hope to load up at 13 cents, or 10 cents. I sure wish I were in a position to do that. But my ACB, although lowered, sits around 75 cents. That's still many, many miles from here.
Back to the heat.