Ann: Brine Confirmed at Hole 5 and Brine Pool Extension at Hole 6, page-23

Yep, nice announcement - BUT!
Price went backwards.

That'd be a few holders who have exited because they were waiting for the next spikey announcement and now it has dropped (and no spike) think their money is best served elsewhere (and they's be right if their strategy is riding waves rather than Tsunamis).

Thing about this stock is a few trades can swing the price a lot (not a lot of shares on issue).

Best we can hope for is a slow accumulation over the next few weeks while people take their seats for the next bit of news.

I see GLN transitioning from a trader's favorite to a long term holder's investment.

If the last holes produce results as good as the first half, should make for a decent sized, credible resource with upper range concentration numbers with low impurities - a good quality brine project, with plenty of room to issue new shares to raise capital.

Thing about Lithium stocks at the moment is we are at the bottom end of sentiment - and it's purely sentiment because we never recovered from 2018 which began with the big kick in the nuts from Morgan Stanley, followed by Trump trade wars with China and other macro-scares which queered the whole ASX not just Lithium.

Another factor is the amount of money still tied-up in cash (nervous investors holding back from equities while the trade thing and federal election played out).

After all these negatives, Lithium is still waiting for the definitive signal that Morgan Stanley was wrong and supply will not outstrip demand. And there is really only one definitive signal - average price of Lithium (whatever grade or variant) starts going-up.

Big auto has announced huge plans, but takes 3 to 5 years to design, program and start building a new vehicle (let alone a whole family of new EV models). Battery packs in serious numbers to mate (just-in-time) with finished cars as they roll off the production line will not be needed for 12 to 36 months. So right now, Lithium stocks are in that uncertain gearing-up phase where producers are getting their ducks in a row, while investors are getting bored with the "all talk no action."

Plus, brine projects are taking a while to get going while hard-rock has hit the front.

This investor believes once we get past 2020 we will look at the whole Lithium sector and say "Hell, why didn't I see it coming?"

It's this difference between playing long term and short term.

Once the price signal hits LOOK OUT - any stock with the word Lithium in it will be HOT, good project or not.

The other possibility is takeovers.
Westfarmers is just the beginning.

Watch this space, looks like crap now - but it has an awesome future.

IMO
DYOR