The EU referendum occurs this week. It's unfortunate that the results wont be released until a couple of hours after our market closes on Friday. Obviously since the polls show the result could go either way, no result is yet fully priced in. The aftershock will be felt across markets that remain open after ASX on friday, namely in the EU and North America. Personally I am expecting a vote to remain but I think it is more the uncertainty that is causing stagnation across the ASX. In 3 weeks we will be new financial year with a referendum result and a new Australian Prime Minister, the uncertainty of many political decisions behind us. If I had more money spare then it would be entering this space over the next 3 weeks. News released by PLS after this time is almost sure to be SP positive and the results of an anticipated BOA announcement and revised economics for the DFS is going to slowly be priced in with us returning to previous highs and then surpassing them. The fundamentals of this stock remain unchanged since we were at 0.87. What has changed?
1. We are circa 10 weeks away from a great DFS release
2. As stated previously by PLS reps, offtake announcements are expected before DFS release
3. The price of lithium is climbing as revised forecasts for demand are released
4. Revised forecasts for mid term AUD valuation is becoming more favourable indicating the potential for higher profit margins at production
5. The lithium market in general is gaining more mainstream publicity
It was always predicted by those on this forum that a very severe shake up would occur before the light at the end of the tunnel and it seems that not everyone is impervious to it. We are in the midst of it now. I wouldn't be tempted to sell a single share at this price when I know it is worth a lot more. It's a game of patience and quiet confidence now and it's going to be an exciting few months ahead as we approach a more realistic value of $1b market capitalisation. I will laugh once again when I see the general mood of this forum do a 180 as the downrampers vanish to another "galaxy" as they predictably do each SP rise, and we are discussing our $1 party again. Salut!
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$3.01 |
Change
0.100(3.44%) |
Mkt cap ! $8.942B |
Open | High | Low | Value | Volume |
$2.96 | $3.02 | $2.93 | $37.97M | 12.80M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
17 | 117136 | $3.01 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.02 | 647493 | 48 |
View Market Depth
No. | Vol. | Price($) |
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45 | 274766 | 3.000 |
21 | 237666 | 2.990 |
18 | 302082 | 2.980 |
8 | 83862 | 2.970 |
9 | 157303 | 2.960 |
Price($) | Vol. | No. |
---|---|---|
3.010 | 60425 | 23 |
3.020 | 771361 | 45 |
3.030 | 282673 | 21 |
3.040 | 236440 | 19 |
3.050 | 453079 | 24 |
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