The "Lithium Boffin" providing this commentary (Michael Fotios) is the MD of microcap lithium speccie Scorpion Minerals, which needs to cap raise shortly despite raising in the quarter just gone. It's not exactly a surprise that the boss of a penny stock is providing a pumpy forecast for the commodity his company is targeting.
More importantly, this bloke has an incredibly chequered history. In 2019 he was forced to resign as a director in two companies due to declaring bankruptcy. He was disqualified from acting as a director and had his estate forfeited, and was facing prison before ultimately being fined $50k for seven tax offences. He cumulatively had about $8.3m in outstanding taxes, plus he left a whole bunch of contractors and suppliers unpaid, as well as a slew of unpaid workers at mines that he operated.
Really cool guy though. A reliable and credible source, with no obvious motivation to talk up the lithium price.
AGY Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
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