Prices capped? How so? They get to exchange upto $300k AUD per month into stock at a discount of 7.5% to the VWAP. How is that capped? Do you mean the discount is relatively low at only 7.5%? I guess you could call a discount a capping. At current prices that works out to be between 6.5M and 7M units per month. The same volume that the ETF dumped in 3 weeks. IMO If there is any capping, it is on the upside.
To prevent a slide relies on pumping out announcements in order to maintain a semblance of value. Remember this unit is burning cash at an annualised rate of $10M from the last quarterly
At least Covid SHOULD have reduced the cash burn rate. Will be good to read the next quarterly.
LIT Price at posting:
4.7¢ Sentiment: Sell Disclosure: Not Held
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