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
2.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $78.84M |
Open | High | Low | Value | Volume |
2.8¢ | 3.0¢ | 2.8¢ | $75.21K | 2.609M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
12 | 3103562 | 2.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.9¢ | 1039602 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
12 | 3103562 | 0.028 |
21 | 3843203 | 0.027 |
18 | 3368820 | 0.026 |
21 | 5049000 | 0.025 |
10 | 3550695 | 0.024 |
Price($) | Vol. | No. |
---|---|---|
0.029 | 1039602 | 2 |
0.030 | 1758375 | 9 |
0.031 | 4099945 | 4 |
0.032 | 1003307 | 7 |
0.033 | 1211102 | 5 |
Last trade - 12.01pm 12/07/2024 (20 minute delay) ? |
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RDN (ASX) Chart |