$17 AUD here we come...
This collapse is not that bad yet. Remember GXY! The low of mid 2020 was around $0.73.
Importantly we still haven't reached the talk of suicide point we got to last time around. This is a piece of piss compared to that rout. But other than that, comments and feelings expressed on these threads are becoming increasingly similar in tone and content to the 'approaching bottom' days of Galaxy. Remembering that this is NOT Galaxy, as it has the combined assets of GXY, ORE and Livent and lithium prices have not come near that past low.
Shorters were also a considerable factor then, like vultures circling something they thought might die or be eaten cheaply.
Honestly, I think no one can not be effected by a plummeting share price (I know I am and why a lot of us write here), but remember the shorters also know this. It's like in war, the other side is hoping you panic and run or do something stupid. Personally, I'm doubling down like last time. You have to back the investment you made for the reasons you made it. I take the fear as positive outcome as I can get in lower and lower...and write here to try and calm my nerves...haha.
Once again there are the many voices talking about how this is happening because of company structure or management. But, it's easy to see that all lithium miners are hurting badly. Some like Core are mothballed. Arcardium is still making money in this environment. Not too shabby. The more that get mothballed and go bankrupt, the higher and faster the upside for brine producers.
Bad management (I don't think so) or not, what I ask myself is, is this company worth the high of around $4.20 AUD paid for Galaxy in January of 2018. Yes! An emphatic yes. So $7 (slightly above my buy price) seems cheap to me considering the assets that Arcadium has and my conviction that the lithium price will rise again. LCE price doesn't have to get anywhere near the highs of last time around for the SP to explode, especially while all the mothballed operations take time to return to production, if they ever do.
Possibly a savvier person than me, would wait longer to see how low this can go. At the moment I average down and try and keep my losses below around 25%. Similar to what I did with Galaxy...although then my losses were easily above 50% at the point I ran out of money to keep averaging down. I remind myself I have to be prepared to stick at this for at least the same amount of time...around 2.5 years from high to low. But certainly could be longer.
It would be a shame to lose the money, but this risk is worth the potential of the reward. In my mind, it could easily be a 3 bagger from here.
(20min delay)