PRX 0.00% 0.4¢ prodigy gold nl

You'll have to excuse the bluntness of my take, but the main...

  1. 109 Posts.
    You'll have to excuse the bluntness of my take, but the main thrust of all of this seems to be that you took some heavy losses when expectations didn't match reality. Correct me if i'm wrong but isn't that the game we play with every speculative mining stock? That's the risk, right? It's a small operation, they have less cash to burn than the majors on geologist salaries, equipment, feasibility testing, and whatever else goes into pulling gold out of the ground. You get what you pay for and the payoff is huge if these guys are able to nail it on the cheap, that's the appeal and also the inherent risk. Not to mention the inherent risk in trying to estimate anything in nature, in which staggering anomalies are abundant. In my humble opinion, to assume deception or gross incompetence as being behind such anomalies is to cherry pick the most satisfying explanation for being let down on your expectations and to look for someone to blame for what was in effect poor trade timing and an incorrect assessment of market psychology. When the price of a stock rallies after Stage 1 mining it's very risky to base your trading strategy on the expectation that Stage 2 results will be the same, or even better. The reality is you don't know, no one knows - that's the risk and the speculative mining stocks base their entire existence on this kind of optimism to negotiate JV's, raise capital, fund other projects, make acquisitions, etc. To the extent management do this successfully ultimately measures how good they are good, average or bad at their job, not necessarily how deceptive or grossly incompetent they are. All that said, of course the speculative mining space is full of crooks - but having ASIC deploy their resources for you to prove that in light of all other variables is wishful thinking. Hype is an integral part of market psychology, especially in the spec space. To buy into that hype and accept it as reality is a rookie error. You're betting against the odds. There's a greater and more sustainable chance of success if you buy before the hype (like ABU now) and get out before the reality spoils the party. I wish you luck with ASIC, but we all know they receive complaints like this all the time for every speccy that misses expectations and burns the blind and hopeful.
 
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