There's a few things here to take note.
Firstly, the past few days of "panic selling" aren't your amateur traders. At least I don't think so with the data available. They are those with large parcels, Tiger Trade is the app I use to track that. It is either large holders disappointed with the announcement that cashflow will not be coming in as anticipated in 2023, or St Baker is still liquidating his holdings.
Secondly, granted they have mentioned that 2024 is the year that they will start delivering their off-take to Kore as contracted. I think alot of holders are expecting some form of production and orders before then but the latest announcement really sealed the deal and confirming that they won't be producing till then (perhaps only for testing purposes). Realistically speaking, that facility is already earmarked for Kore and no big players will be taking in chum change of anode we produce, they would want reasonable volume.
Not going to sugar coat it, it was incredibly painful to see the price movement the last 2 weeks. I've seen my 7 figure holding reduced to a tiny amount (eventhough last year I told myself I'm willing to risk it all). I do hope that we will see some traction in the coming days or weeks in terms of new facility announcement, new off-take agreement(s) and/or cathode update. Time will tell.
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1 | 42919 | 0.690 |
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2 | 26830 | 0.675 |
Price($) | Vol. | No. |
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