Just a heads up i dont think anyone could tell you with confidence exactly why this is happening in this scenario.
Anyways, here are some factors to be aware of:
1. Markets Volatile in general 2. No concrete date on demerger 3. Options converted/redemptions 4. Insto selling (we have evidence in broker data, euroz who have been repeat offenders) 5. Lack of any news on the gold 6. Lithium while progressing still has a few more important announcements to derisk it further but probably wont be fully realised until after split
What should move it: 1. Dates provided by demerger (i.e. people will buying up leading up to the date to be eligible for the offer as their will be no separate public offering) 2. Gold news on drill results (has to be very good) 3. More ETF's buying taking up liquidity (Sprott) 4. Lithium news on FID/Approvals (might not move it immediately until post demerger) 5. Any good progress on tax situation
What should help maintain it: (people may argue these could be price movers but in the past it was just reiterating what we already knew some what and hadnt moved the dial that much, happy to be proven wrong though), i call these just tick box exercises 1. Updated Gold study for existing 2. Underground operation study 3. Updated DFS for lithium 4. Dewatering finalised 5. Debt being finalised 6. Gold revenue update
FFX Price at posting:
59.5¢ Sentiment: Hold Disclosure: Held
