From my understanding, Jindalee (the block trade seller) is...

From my understanding, Jindalee (the block trade seller) is running extremely low on cash at the same time that their share price is highly depressed, leading them to raise cash through any means. On their most recently quarterly it states that they only have an estimated 0.87 quarters of funding:



With Jindalee's share price currently at such depressed levels, I can understand the appeal of them selling their EME holding at a large discount in the hopes that delaying a raise with the proceeds can allow them to do a capital raise a little further in the future at less dilutive price.




With Jindalee having been a seller for a long while that has held down the EME share price and recently decided to dump the last of its holding on the market at a large discount, this point in time very much feels like a capitulation bottom and a potential inflection point in the stock.

This capitulation bottom on large volume reminds me of the setup in Forsys Metals in August 2023, when due to low liquidity the stock was removed from the URA ETF, resulting in a large seller of a large percentage of the company, which resulted in a final high volume capitulation bottom, very similar to what EME is currently going through right now:



All of this selling caused an artificially low stock price relative to fundamentals within the company and after all sellers had been exhausted, the stock went on a very strong run, going up more than 200% in 6 months:



Liquidity events with forced sellers make for some of the best entries to accumulate positions. I have been watching EME for a while now wanting to build a position and I can't believe the gift of this entry price at the same levels as the March 2020 covid lows, when the uranium price was $24/lb.