This was the big one for me, at least. Given the US/China trade wars, I was expecting this to be delayed or even worse. I think some shorters were also betting on a big delay or bad news here. I do not expect any trouble with FIRB which means 95% chance of this deal moving ahead, imo. This de-risking event will bring more conservative funds on board and will allow others to top up (as I have done today with some minis at a bargain!).
Technically, have also well and truly confirmed the break out from the down trend channel over the last year with a higher high on the daily (if we can hold). A good FY report to come showing we are not a one trick pony with huge diversification and a pick up in mining services revenue (and outlook). Not to mention the IO windfalls which has not been priced in like other pure IO plays over the last 6 months.
IMO, this announcement completely de-risks the Albermarle deal which was weighing on the SP (along with Li pricing) and allows the other parts of the business which are firing to express themselves in the SP.
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Open | High | Low | Value | Volume |
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---|---|---|
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View Market Depth
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3 | 1099 | 53.900 |
1 | 195 | 53.870 |
2 | 1500 | 53.860 |
3 | 298 | 53.850 |
Price($) | Vol. | No. |
---|---|---|
54.200 | 2000 | 1 |
54.220 | 150 | 1 |
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54.980 | 1165 | 1 |
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