This is were you make your money. When you think everything has gone mental, you have done your research and know the massive fall has nothing to do with fundamentals. Throw as much as you can at it. The price is not going to nothing. The f-ckers want to make money on the up and down. They can only get so much on the down and will test how far they can go but they will drive it up again. They can wait longer then most of us, so this could go on a while.
This stuff has to be coordinated, they are all in it together. They missed the first boat and didn’t get there fill in the second round. Third time they will own as much as they can possibly get. Since we are not yet seeing ev’s everywhere they can still get away with bullshit news and driving these things down. We talk about no news, well look at those that have had good news come out, PLS is still down 25% from its highs. We are down more on no news. As far as I can see all of my lithium’s are well down. TAW is about to go into production and they are down massively. Like us they have a 5 year agreement. So nothing changes on the downside both here and there for 5 years. But they like many other producers or near producers have massive upside. It’s bloody hard seeing the paper profits disappear especially when you have no more to give. But if you do this is the chance to do well.
The next high will be higher and we will all be happy again. Bloody hard watching in the meantime and waiting for it. But I suppose this stuff is not meant to be easy. If it were any idiot could make a buck out of it. But only the ones that stick to their plans do. So if your plan is to protect your capital maybe you need to cut your losses, if your plan is the stick around for the mother of pay days in years to come hold strong and have some conviction. You bought this for a reason, that same reason is still playing out now. Remember we are getting massive profits, have the mine purring and have no debt, with assets still to come online.
I’ve said it before but even if there is an ounce of truth to the oversupply BS, that changes as soon as the funding stops due to BS. Many that had a chance of getting up won’t leaving the strong early ones making a profit to continue on with much less competition. We can buy up the ones that can’t get funding and build our mines from our own profits. So this BS actually makes our company much stronger. We have good margins and no debt so we can withstand a price drop (which is not happening by the way) and have one of the worlds best brines resources that will compete on costs to produce with anyone. So if lithium is needed GXY win anyway this plays out.
GXY Price at posting:
$2.91 Sentiment: Buy Disclosure: Held