I am hoping the opposite will happen of when we entered.
It has been nothing but frustration and misery since we entered.
Some would argue that as a company, we were too immature to enter.
Riding a wave of positive lithium sector sentiment, with no revenue to show for it.
A falling lithium price attracted massive shorts into the sector, of which we were heavily burdened with.
We entered in September 2022, and this is what happened...
We only had 1.5% shorts when we entered,but was a 2 week systematic demolition of our SP, that went from 37 to 22 within 2 weeks, with a downward trend that continues to this day, and were 10.5% shorts within 2 weeks.
Other catalysts continued to drive us down in harmony with the shorters.
The declining lithium price being the most significant contributor.
And hopefully when we re-enter, our performance, balance sheet and the lithium price are all much stronger to withstand the onslaught of re-entering, what is to me, the dreaded 200.
We were ill equipped when we enter. too immature as a company.
Hopefully next time around, we wont be such pushovers when we take on the big boys.
So now what?
Well, if the opposite is happening to what happened when we entered, than we may be on the way up.
What is for certain is there will be extreme volatility and wild swings in volume, particularly in the lead up to the 15th of March.
But with a daily increase in lithium price and futures, and a positive sentiment returning to the sector, we seem poised to staging a recovery of sorts.
And with the removal, we may see a return to more traditional trading patterns in tune with the market, rather than being completely decoupled and solely dependant on the whims of the big boys.
The green shoots are definitely there, and with us forming a double bottom, we have hopefully seen the last of trading in the 3's.
We will move in lock step with the lithium price as it moves up, but will be less encumbered by the shorts which have plagued us for so long.
TA may even be able to make sense again, as we hopefully move back to the more regular trading patterns we saw pre 200.
So Sylvain, get that plant humming mate, because soon, we want to tell the world we are at nameplate, and selling at a profit...
(20min delay)