Hi all, I no loner hold CXo. Sold the last of it today but will keep an eye out for possible re entry later. I have pull this apart from all angles but cannot see it going back above $1, unless a bigger fish come along. Reason is too little too late has been done by the CEO. For this to go back to $1 the SP would need to increase 50%, $1.30 the SP would need to increase $100%. In order for 50- 100% increase, production would need to double and contract prices $5'-6k/t. Bp33 deposit has doubled and there is no affect. The CEO has publicly said the value of Grants is not there.not for the next two years ( he is apparently confident in the numbers) . If SP increase due to contract price rise, than all other lithium producers would also increase proportionately. They are only looking at commissioning the plant now as they try to monetise the fines. Good luck to you all, I believe this will range bound. The intos could buy and screw the short, they are not, they are the shorts.
CXO Price at posting:
66.5¢ Sentiment: None Disclosure: Not Held
