Weekly bounced off the 200 SMA for the 3rd time last week. If the SP shows too much more weakness and ends up below the 200, then I couldn't find a decent support until the mid teens. Hardly positive , considering the bleak outlook for Sn over the next quarter, of late.
Fortunately, we did get a hollow candle with volume today, but the rise in SP was again dampened by feeds at market from the ask queue, as usual.
Hopefully, we get SOME respite from the continual selling pressure, at some point...
Considering the severe of shareholder value of both APAC and MLX since their highs, it might be time for Bretty, etal, to start SELLING the company's virtues, instead of simply sitting on their arses and pocketing the million dollar p/a in fees , all the while eroding both investor confidence, and total SH value, which comes in close to 80%.
It's no use constructing a profitable company, if metrics indicate a SP instability and possible future loss of value, due to possible future market volatility.
Investors will simply look elsewhere for stability and value, which will be present as the market turns. Maybe we should bring Rod from NC1 in as a sales consultant?
Even if he does day trade the company. Any sort of advertising has to be better than insipid announcements, with the current lack of invesotr engagement and supine attitude towards shareholders.
Considering the current lows we have endured of late, wonder why Bretty and his mates don't buy a share or 2 on market, just to show holders that they are actually still alive?
Sh*,it I purchased more than 20k a week in shares last month, instead of 20k for the entire calendar year...
Time to get off the lounge and make an appearance on every investor preso they can get their heads onto boys, for the next few months at least.
Anyway, the AGM will be amusing...
On another subject, I cannot remember if I posted this one before.
As suspected, the Chinese have been stockpiling tin while the prices are low. Smart move by a consummate trading and investing culture. Especially with possible blockades and conflict in the Taiwan straights into the future..
You would have to wonder if futures are being shorted to hell during these weak market periods as well, to extend buying opportunities...
https://news.metal.com/newscontent/101977663/what-is-the-tin-export-ban-in-the-mind-of-indonesia-governmentAnyway, I digress............
(20min delay)