I'm going to guess that the price action is due to the following in the absence of a company announcement:-
- The obvious one is that Trump tariffs are creating havoc everywhere.
- inadequate updates on a real income stream from management. Only announcements on more spending to enter the realm of being a manufacturer of finished products (not their core business). It's like a gold miner making their own jewellery.
- the probability that the war ends and Trump gets a whack of critical minerals from Ukraine
- Two of the bigger IPX shareholders, Regal and Pengana, are dealing with horrific trial results from their investments in Opthea. There would be pressure on their redemptions. In fact, AFR reported (27th Mar 25) that Pengana freezes redemptions in one of its funds as it prepares for the Opthea wipeout.
I've topped up a little when the price falls below $2.90. There are a lot of stocks falling at the moment, and many with real income streams, so I won't be getting too excited here. I always knew this was a long play so patience is still required.
I'm glad to see the entry of a new, credible, substantial holder in Vanguard. Minotaur Global Fund is also a localholder and a very good operator. Let's see. Good luck holding your nerve
Open to any feedback. Thx
IPX Price at posting:
$2.75 Sentiment: Hold Disclosure: Held
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