2023 Charts, page-442

Well, after I criticised people for over the last week or so continuously claiming the bottom was in and we're about to bounce...

Today we had our first green candle in over two weeks, and I'm cautiously optimistic that 40c was the low. If I'm wrong, I won't just pretend I didn't say this like the others, the next support I see is 36c and if 40c fails I'm tipping we'll get there, but I'm thinking 40c will hold. Obviously the macros are critical, as is the outcome of the 10,000TPA permit (we'll rally as soon as we get it, or in the unlikely event we have it denied, we'll be collapsing severely). Being told that management was "targetting" having the permit by the end of Q1 was a stupid idea (unless we actually get it within a week from now) and has no doubt contributed at least a tiny amount to the negative sentiment and movement we're seeing this month. You might get a small increase in optimism and hope from such a promise, but you'll get a much larger backlash if you don't deliver on it, so don't raise hopes unless you're confident you can back your words up.

Anyway, nice to have our first green candle since over two weeks ago, and with any luck at all we've now seen the low. Filling the recent gaps will alone give us a more than 50% increase in share price. Getting the permit (I don't want to reopen that can of worms, but I still expect it around the time our 2,000TPA plant his nameplate production, and all those who said I was crazy and we'd have it before now are welcome to eat their words) should take us to a new all time high, and I expect the lithium spot price to recover by the end of the year, and keep in mind that the spot price relevant to us hasn't collapsed like the largely-irrelevant Chinese one has, it's just that the Chinese prices are easier to follow so get more attention. Also keep in mind that any information coming out of China is extremely unreliable anyway.