GXY has ridden the downturn pretty well- but like a prized fighter who’s taken a couple of blows but just bunkered down and weathered the storm. IMO has shown prudent management- got the cash sitting in the bank- didn’t rush into anything- and now can eye off expansion in its own time. When others have really hit the wall hard- A40, PLS, AJM, having that cash balance, slow down it’s timetables, preserve cash, defer expansion, leaves GXY in a good space to move forward quickly once sentiment turns and lithium pricing/quantities change.
Might not be the bottom @eatmyshorts, but you might also miss out on a good buy if you wait to long...
’Im looking for re-entry but it does seem a while away now...’
You’ve already missed 80c buy in, now you might miss that $1 buy in! Good luck- pretty good buying at this price- and if GXY can clean up on the A40 mess, then all of a sudden GXY has got through all the doom and gloom with better cash reserves, better resources and excellent expansion possibilities.... NICE! Might snap up a few cheapies this morning myself!
GXY Price at posting:
$1.08 Sentiment: Buy Disclosure: Held
