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Gekkko

2,201 Posts.

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26/09/18

14:08

Post #: 35855291
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Originally posted by yanlin ↑

Like you, Gekko, I've been replenishing supplies of GXY in my investment account. Can't resist topping up at $2.52/3 levels.
The lack of market depth is a sure sign of seller fatigue. Even if it drops down to test recent lows, this will be only for a short duration. Heck, even Mac Wealth has changed their tune. Here's an extract from their Commodities Comment issued yesterday (25/9/18):

Battery Minerals preferences unchanged
 The changes to our lithium price forecasts were mixed, with near-term upgrades and a lift in our longterm price offset by cuts to our medium-term forecasts and also incorporating the changes to our
A$/US$ profile. We leave our recommendations for our battery raw materials coverage unchanged after
incorporating the new price outlook.
 GXY and PLS remain our preferred pure play lithium stocks, with GXY offering greater leverage to
longer-term prices through its Sal Da Vida and James Bay projects. We continue to view PLS as
operating the highest-quality asset in the sector. SYR provides unique exposure to graphite and has
recently replenished cash reserves.
Company Code Market Cap (A$m) Rating Share price Price target TSR
Galaxy Resources ASX: GXY 1,060 Outperform A$2.60 A$4.00 54%

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Wow that's a quality report @yanlin For MacQuarie to be that fair & honest, they must surely be investing..Thanks for that info..very concise & balanced

GXY Price at posting: $2.52 Sentiment: Buy Disclosure: Held
5 Upvote

0 Great analysis

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Tipping Competition, page-19

Top Stories

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Telix jumps 11.6% as US government indicates proposed medicare changes won't affect prostate cancer drug

Renascor wins a funding boost given it wants to produce a critical mineral – but $5M award pales in comparison to some

Augustus sees imperial share rise on high-grade Cu and gold results at Ti-Tree

Canadian fieldwork yields multiple pegmatites for Trinex

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