We’ve seen this pattern so many times before. SP heading south without any reason. Happened 4-5 times last year alone.
They are trying to spook retail into selling, each time there was no reason for the sell down and the SP recovered, seemingly without any reason either.
Perhaps the shorters are betting on a CR to cover their positions like in September. Fairly confident this isn’t the case - we had $96m in the bank at the end of Q3, and subsequently received another $20m and $91m prepayment. Will then receive $20m on delivery of the cargo. So plenty ($230m of cash minus when we spent in Q4) of cash in the bank, with the Spod price holding up.
Worst thing you can do is to sell. Just sit tight and let it play out.
You’ve seen the piles of white gold sitting on the ground, on the way to the port.
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9.1¢ |
Change
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Mkt cap ! $194.4M |
Open | High | Low | Value | Volume |
9.2¢ | 9.2¢ | 9.0¢ | $215.2K | 2.362M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 242134 | 9.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
9.2¢ | 540960 | 16 |
View Market Depth
No. | Vol. | Price($) |
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75 | 2455345 | 0.090 |
22 | 2072994 | 0.089 |
20 | 1568576 | 0.088 |
20 | 855189 | 0.087 |
13 | 702334 | 0.086 |
Price($) | Vol. | No. |
---|---|---|
0.092 | 541945 | 16 |
0.093 | 410351 | 7 |
0.094 | 564475 | 8 |
0.095 | 310001 | 3 |
0.096 | 25500 | 2 |
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