LCL 8.33% 1.1¢ lcl resources limited

I too have held a number of other stocks which have been a lot...

  1. 430 Posts.
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    I too have held a number of other stocks which have been a lot worse - on some I have lost the lost. I know we are NOT forced to participate but under their management the share price has dropped from a high of about 50cents per share to 0.5cents per share and the drop is so low for many longer term holders we are in a way forced to participate or be diluted to practically nothing. Some of the fall in share price is the market but like any business the buck stops with the people in charge and that is the BOD.
    I accept the MD is putting in a fair bit of his own cash but there are a number of arguments you could put forward as to why, reduce their own average, to appear supportive to encourage others to put more money in, keep the company viable... Do you think anyone would stump up more money if the board didn't?
    Remember some of this money is to keep paying them a wage which is huge relative to the capitalization.
    I have invested as I think somebody will be interested in LC but it won't be due to their (BOD) management skills.
    If I believed this was a company with no future then I would not put in more money and offload what I am holding and take the massive hit.
    Zimbabwe of ASX might be a slight exaggeration but based on their achievements so far I would say it is only slight. I do not see them (BOD) as a shining light of great achievement. They have a potentially great asset but have failed to convince or communicate to others what exists or have been too greedy about their own goals.
 
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1.1¢ 1.2¢ 1.1¢ $56.18K 5.082M

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2 1908255 1.1¢
 

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Price($) Vol. No.
1.2¢ 1851296 5
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Last trade - 16.10pm 29/03/2024 (20 minute delay) ?
Last
1.1¢
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Last updated 15.59pm 29/03/2024 ?
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