Ann: Ceasing to be a substantial holder from MS, page-53

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Wary1

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21/07/18

09:42

Post #: 34491522
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Originally posted by mv123 ↑

Having now read the quarterly report for the second time, I have to agree that it was nothing but impressive all round. The company is obviously so well positioned right now.

And yet, the following morning of trading (and for the rest of the week just gone), there was barely a murmur.
Still incredibly low buying volumes, and whether it be MS or otherwise, the fact is that it is just far too easy for the shorters at the moment.

So where are the buyers? Checking market depth during the week, it could be seen that a lowly 100,000 share sell trade would have been almost enough to line wipe the SP straight down to $3! Barely over a million shares traded again today..

Not even the very positive comments from John Lowry could generate any interest at all in Galaxy.
Whether it be a cornerstone investor, small fund manager, or aussie super fund- nothing.
Even a $10 million on-market purchase by a fund (over a day or several days) would be enough to reverse the stagnating SP.

Probably partially due to external market forces and general nervousness, causing money to be put back into the more perceived conservation stocks such as BHP. But it also seems that there is concerted effort to downplay market sentiment towards lithium companies like galaxy, no matter how good the fundamentals may be. Influence of other industries such as oil, political influence- maybe all of the above.

All of us here can do is top up around the $3 level (most of us here have), and wait for one of the biggest lithium deals (if not the biggest in Australia) to be done shortly. A well-targeted investor roadshow by the company would also be a big help.

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If there continues to be no change in share price, then maybe the catalyst for change will be a dividend, i.e. it will have to become an income stock. Wouldn't it be great if a special dividend could be declared after the POSCO deal. For me though, the fundamentals are outstanding and I would be expecting the share price to grow (at some stage).

GXY Price at posting: $3.06 Sentiment: Hold Disclosure: Held
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