Winson,
I feel the need to explain why we got to where we are again there is no point to exert any pressure on management to take actions about the falling stock price. Offtake will happen when it is ripe to happen, my closest guess is it will be after the DFS. The last few months has been a disaster to all lithium miners during which LPI gets hit the hardest. We've spent months and months digging for reasons. We were guessing being located in Chile might have something to do with it but hey Wealth Minerals has recovered pretty well from the slump and is now nearing all time highs at >200M MC, not to mention no work has been done yet on their tenement. We were guessing the government approval is holding us up but we've now got the approval and price is almost back to where it was. Next guess court case?? forget it, it is not the reason. If investors are willing to put up with the uncertainties in AVZ with its sovereign risk, no infrastructure, undefined resource, high impurities I am sure they can put up with the uncertainties with the Codelco sh!t which only is a matter of time when it will be resolved.
The real reason is, if you look at the course of sale around 3pm this afternoon, the person that sold from 38c to 36.5c are selling large orders in thin liquidity - which a genuine sell order will never do, in the next minute we've seen someone bought 100k shares on the market (the seller?). What they have been doing is taking advantage of a weak market to trigger stop loss orders in the hope of buying back with some easy profit or more shares. The risk of doing this is very little today compared to the reward they can get out of it in knowing nobody will step up and sweep them out in a bear market it is today. And again, everyone knows LPI never had any investor participation to support a short term mis-pricing so they can continue to play this game until price is low enough they fear it is too risk to play it anymore.
You may feel p*ssed or frustrated but don't feel scared. Absolute disastrous case scenario is if LPI does not get to production and the Maricunga asset is sold to Codelco for zero premium for the 7 years of study and work done on the tenement (which IMO has zero chance of happening), we will receive 40M AUD plus, 24M in the bank, 3M receivable end of this month, 10M in the JVP account (5M belongs to LPI) plus the two WA tenements say valued at 5M each, the company will liquidate at a value of 87M AUD which is close to what the market is telling us how much the company is worth now. I am curious to see how much downside there is
