On a technical level, great to see the gap closed at 73.5c today. We're up over 25% on where we were this time last month. New upwards channel forming, target of Xmas present $1?
Lots going on on the macro side of things. Chinese controlled / owned mines in Africa also suffering. If they are, and China are shutting their own mines, you better believe we've hit rock bottom, so to speak.
Chinese stimulus might be a short term fix, but will certainly give a boost.
T/O talk. Surprised that RIO might be aiming as high as ALB. That would be a game changer for them. I'd anticipated them getting in smaller with LTR being the prime candidate (brand spanking new plant, excellent management, and Tier 1 customers in LG Energy, Tesla and Ford). That would be a very ballsy move going for Albermarle, but as others have said, I can't think of many worse run companies in mining. LTR should enter the mix regardless if that comes into play, as @anatol quite rightly says, Greenbushes isn't one for the longer term. Their best days are well behind them. Still a massive mine and quite the asset, but dwindling quality ore reserves.
All up a very positive week. I'm hoping it goes on a run like it did in March, for 2-3 steady months, as production increases and ramp up continues to go smoothly.
LTR Price at posting:
74.0¢ Sentiment: Buy Disclosure: Held
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