Lack of volume on the US OTC market is always predictable. If I don’t mention it, someone else will and use that as evidence US investors don’t matter. But when the price goes up in the US, with no real increase in volume comparable to what is happening on the ASX, that is relevant. It shows that the pump and dump is more likely a handful of Australians selling the same shares to each other multiple times, as if they were the latest Bitcoin. Which probably, they are. If the strategy sucks in enough outsiders, the group can leave the market with a profit. If not, the net losses are no greater than the net gains.
If there were inside information floating around, like an imminent BLM approval, US investors would have caught wind of it. If the viability of DLE in the Canadian brine fields had gained greater certainty, the other companies operating in the area would be gaining on the Toronto exchange.
Meanwhile, AZL continues its laughable references to a Nasdaq listing. If a company has strong fundamentals, it can succeed just as well in OTC trading; and if it doesn’t, it will soon disappear from Nasdaq listings, as Blumberg’s company has done. First requirement is to reach a US $4 minimum price and hold it for three months, which can only be done with ADR’s representing 500 shares of the penny stock. Or maybe 250 shares of the tuppence. Good luck with that.
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