f there is 1 stock on the asx that has been severely hammered down since the GFC in the early 2000's it is definitely LCL Resources. My trading view software reveals that LCL had a share price in 2008 of 585.77. Wow, it's quite astonishing how beaten down the traders & investors have brought it down to a current price of 0.011. Today's trading on LCL was probably about 4 x times the usual Volume from earlier in the week. Today the sp nudged 0.013 at one stage pushing through recent resistance.
Sure, I have heard everything from inept & uncaring management living it up in PNG to, it's one of a plentiful amount of resource stocks beaten down to the ground in sp due to the current marco & demand/supply cycles. When does LCL turn that corner and its' share pice start acsending again, Ie. is the bottom in?
I am trying to drum up some interest in LCL Resources here on Hot Copper. So in case you don't know much about them they are prospective for copper, gold & nickel in Papua New Guinea. We know that the price of Nickel is way down in the doldrums, but over the next year or 2 I see the nickel price returning to strength as will Lithium. We know that the gold price is cyclical as well and is well supported lately with its safe haven aspect.
I know that there would be some pain and negativity amongst some holders who have held on to the company during this quite frankly disgraceful downturn in share price. Any thoughts.....? Perhaps I should go and hide under a rock..?
LCL Price at posting:
1.1¢ Sentiment: None Disclosure: Held
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