It seems like this share is going back on sale.
It is very daunting for those who bought recently, but for us long-term accumulators, we see opportunity repeatedly.
Here are a few key things why I believe the SP is dropping:
- The lithium market is taking a beating, but I personally see this levelling out. Lithium is still valuable. Currently, there is an ample supply due to every person in the game mining and selling it as quickly as possible.
- Holders will unfortunately panic sell into this, which is a shame to see, but everyone has their own risk management
- A lot of holders have bought in with the expectation of constant news flow, which has not happened. This is not a bad thing and requires patience. I, for one, will not sell a share till we get our drill results published to the market. You would be mad not to.
- Day traders will take their profits.
All of these things don't really materially represent the value of RDN except for lithium prices. But what a lot of investors are forgetting is the value that is held in Mt Sholl. This alone, not taking into consideration lithium, is enough to support the SP at $0.04 - $0.05. On top of this, we have our gold productivity, and the lithium projectivity is a massive bonus on top of all this. The last three issues will sort themself out once news starts flowing.
GLTAH & DYOR!!!
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Last
2.4¢ |
Change
-0.002(7.69%) |
Mkt cap ! $76.68M |
Open | High | Low | Value | Volume |
2.6¢ | 2.6¢ | 2.3¢ | $949.5K | 39.09M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
24 | 5108805 | 2.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.4¢ | 6851 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
23 | 4978805 | 0.023 |
15 | 1895745 | 0.022 |
14 | 2652487 | 0.021 |
17 | 4838011 | 0.020 |
8 | 2167559 | 0.019 |
Price($) | Vol. | No. |
---|---|---|
0.025 | 2580517 | 6 |
0.026 | 1359988 | 4 |
0.027 | 5260523 | 10 |
0.028 | 1598820 | 6 |
0.029 | 1240750 | 6 |
Last trade - 16.10pm 19/11/2024 (20 minute delay) ? |
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RDN (ASX) Chart |