AZL General Discussion, page-9535

I will be looking to average down around 4-5c. As sad as the share price is right now, it provides more opportunities to buy in at bargain prices and for those who bought at the peak to average down. It looks like 8-9c resistance is well and truly broken. Therefore next resistance is around 4-5c where the share price held for that period Jan 2021 to October 2021.

Those saying I am wrong don’t realise there are still 7 trading days ahead of tax sells. More stop losses will be triggered and the bears now have the box seat. Also further bad economic news ahead - today we saw the UK release the worst inflation figures since WW2, economists are also predicting another 75 basis point rate rise in the US in early July. No doubt in Australia too. Sri Lanka has just officially announced its economy has collapsed and this is just the first of many to be going bankrupt. Plenty of bad news ahead, further negativity this time of year and the big Li players crashing doesn’t help sentiment in the sector either.

Unfortunately the delay in BLM approval has hit us harder than I expected. If this was approval was already locked in, we would have been deep into drilling and the constant drill news and exploration activities would have softened our blow. In this market we would have still lost value, but with more newsflow and announcements regarding Li exploration, the demise would have been far less.