I'm missing something here. Why/how are people interpreting this as bad news? Or is this negative sentiment referring to the guys that been holding the bag for 5 years, waiting for it to get back to $2?
I'm no expert here, just a technical swing trader, but to me this deal is GREAT news. This deal solidifies GXY/GMM as the dominant lithium players in Australia. This moves GXY and GMM out of the speculation phase, and into the production phase, way ahead of the pack, where the real share price gains should materialise.
Hold hard longs. Volume on the buy side should tell you all you need to know. At worst this is a pullback to form the last shoulder of a head and shoulders chart pattern. After that, the only way is up.
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