I sold most of mine to crystallise the loss (six figures mind you!!
) but will be buying all those back and more - just in case she goes OK in coming years.
I personally feel that $90 - $100million market cap is too high for AJM at this stage of their development.
I hold much better companies with better prospects with market caps around the $40-$50 million market cap. I find when I apply a common sense valuation to companies based on little more than gut feel, it's usually not far from the mark.
This is where I expect AJM will drift down to over the coming days and weeks.
I expect some large holders to try and keep it in a tight trading range between say 1.5 - 2 cents for as long as they can so they can exit slowly. Once they have finished, the floor will drop out of it fairly quickly. I could be wrong but this is my guess based on previous experience.
$40 - $50M puts it at around 0.008 - 1 cent mark. I will aim to grab my shares back plus a few extras at these levels in due course.
If it never gets back to those levels, I don't care that much as I have some ripper lithium juniors in my portfolio and see AJM as a capital loss and a bit of a longshot!!
It is nice to see it trading again though and frankly, the 1.5 cents or so I got was a bit of a bonus!!
I hope they rise like a Phoenix in the long term.
