So another day of reckoning for RDN on Monday?
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Yes after play 1/1.1 for couple of weeks - suddenly boom. I was watching on Wednesday, once 1.2 was cleared, it looked strong. Couple of more line wipes on the way, reached 1.6 and finished at 1.5 - big 50% gain for the day. Nearly everyone would have expected ASX query and we got one.
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To be frank, I was hoping the response was not for Lithium, Andover. I felt in current Lithium sector conditions, if the rise is happening, its around other drills. But it is Andover. Lithium sector has had a torrid 3 years. Last week I posted 2 year results on many Li stocks that I post. It was not a good reading. I have posted below for anyone interested. So the results may have to be good. I feel very good for decent gain. Reason being the sector is in bad shape. There are many more advanced Li stocks with lower market cap than RDN - so some hope/potential has been built into the market cap. Now the time has come to live up to it.
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Personally it was so tempting to buy on Wednesday. But I have seen these ups and downs at RDN at regular intervals, so thought will wait and see what it is about.
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So what could happen on Monday? I think all options are open. Every drill is individual by itself and has the potential to deliver. The land RDN holds was very dear at one time, in Li boom time. It may have decreased slightly now because of Li sector. Also one result has not been favourable. So second reason its value may have decreased. Dusko raised at 3s when results very due. In hindsight, many may think that he got an inkling of bad results so raised immediately. So sophs may not be happy. Other thing that goes against RDN is that there have been few suspicious rises and falls, jumps before results, etc. So credibility is not strong. But all can be forgotten and forgiven if the results deliver. Last few years, only AZS and WC8 have delivered on Aus land. In between 100s of dusters. Lets hope we get a good one. All the best.
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Here are the numbers for last 2 years across 90 Li stocks -
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(20min delay)