Good evening @AlbertE,
I am not a geologist, but thought I would share my thoughts on the slide.
When you say "large sell off" I would argue the opposite. In fact the volume from the high of .315 to the low of 17c has actually been tiny, relative to the volume moving up. This to me is simply, a small portion of traders exiting and weaker holders taking profits, due to an over 100% rise in little to no time. This is definitely a positive here and for me not an issue. Naturally people become fearful when the price pushes below resistance and .23 for me was one of those points.
Secondly, the broader market for explorers in the lithium space, circumstantially has tapered off a little, this has impacted the SP along with plenty of others OZM etc and will happen to any stock.
Thirdly, the announcement last week indicating broader news flow to come through in weeks (not days) clearly pushed a few holders out, moving onto other stocks and taking their chances there. Whilst for those few intra days, this is certainly not ideal, I have seen on numerous occasions buyers stepping up in here in the days proceeding, which only creates more hype and excitement moving forward. With this small share registry, that is only a positive!
PIM for me as a ST hold ticks all the right boxes. Their tenements are in a hot area, it has a tiny MC, its cashed up relatively to it's overall MC, has a tiny registry and a management team that appear to be moving in the right direction.
I'm holding here.
AIMHO
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3 | 65000 | 0.043 |
2 | 173100 | 0.041 |
3 | 422000 | 0.040 |
1 | 31281 | 0.032 |
Price($) | Vol. | No. |
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0.058 | 145000 | 2 |
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