Things will probably be pretty slow around here for the next few months, so patience is required but nothing to worry about IMO. The SP went through an Elliott Wave cycle and a lot will be wondering just what tf just happened. Those with some experience will have waited for that to finish before buying in, and I still think it's early. I understand the frustration and disappointment and a lot will hold on for months before giving up and selling out at a loss, and this will help keep the SP down a while.
Those kind of movements feel like a royal flush on the pokies for rookies and they come to expect it again and soon, like gamblers, but the reality is it won't hold 40c before significant developments on the ground. That would be a MC of about $50m, which isn't all that high for a battery minerals company with slightly more solid prospects than RAS has right at this point, and I see no reason it won't get there, but it won't happen this month or next. Maybe by year's end.
Solid data and a JORC need to be completed at a minimum and that's just a matter of time - nothing you can do to expedite that. Any viable Li resource in NT should get it to $50-100m and that hasn't been proven, but proximity to CXO's project makes it a better than average punt imo. At a $15m MC, you can't hope for more, but if you want greater certainty you can't expect the same return if and when it pans out.
My only advice is to decide whether to hold through (if you can get by without that money for now) or wait it out and develop your patience - just don't read the charts too hard day-to-day bc life is too short. It's hard to realise a loss but if you have to use the money in real life, pull out, suck it up and try to see where you went wrong. Don't lose the lessons you've just paid for. You can always come back to the game if and when you feel more ready and it's character building anyway. No champion is undefeated and only those who get up again will ever succeed.
RAS has good potential in Li and halloysite (forget about any gold, that should be sold off to support the others) and strong management. I personally don't think it's going to go past 20c for 6-12 months because of the uncertainty in the economy and broad mortgage and employment stresses, but a good resource definition or similar could change that quickly. The value here is in the fundamentals (unproven) and bargain basement pricing. Others at this point have higher SPs that I wouldn't be comfortable buying into. Unicorn season has ended but there are foals being born that will become stallions.
