Was happy to open a (long term) position at $0.215
Seems a classic case of buy the rumor and sell the news ... this stock was below $0.07 just 6 months ago and I would not be surprised that a fair few would have been buyers on the rumor that the PPL would be issued before EOY. Now that hurdle has been achieved they sell on such news.
So what's the fundamental "compelling business decision" to buy this stock?
LCK will be by far the lowest cost of supply of Urea in Australia. Even better it replaces an imported product with a local product. Demand for Urea isn't going away .... despite pros & cons of its use.
https://www.farmweekly.com.au/story/6834651/urea-to-remain-in-high-demand/
Still a lot of work to be done before even achieving Stage 1 Commercial Development and plenty of risks remain for full scale plant.
Was happy to open a (long term) position at $0.215Seems a...
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