AGY

5.00%

4.2¢ argosy minerals limited

It's not about pulling out they aren't in they are just turning...

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asxDragonslayer

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04/04/23

16:56

Post #: 67132061
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Originally posted by Jezzaaa: ↑

Interesting stuff. The big dogs pulling out as the tide recedes is enough to cause some havoc regardless of business prospects which is always the sad reality we need to come to terms with. A time will come again when it's "stacks on" and big dogs are desperate to get in.

FYI everyone - dirty Joe Lowry's latest podcast episode is actually pretty good. He had an analyst on there from Fastmarkets, who provide transparency on lithium pricing. This analyst has a looooot of exposure and insight into the current market forces.

The analyst said that demand was up y.o.y in Jan, Feb but wasn't as much as expected due to end of rebates in china, high interest rate conditions, natural seasonality (Q1 is the lowest), general destocking, and basically the lithium prices going down has caused an effect where no battery maker wants to buy ANY lithium because they would rather work through their stock and buy later only when they absolutely have to when lithium prices are lower as a result of no one buying because they're all working off that same philosophy. Combine this with CATLs 200k yuan price referencing and this makes a lot of sense.

The analyst said pricing is expected to bounce back around June 2023, in a U shape (not a V) as battery makers are forced to restock. Longer term pricing expected around 200k yuan+ (30K USD) and upwards, which is still very high.

They also said even at 200k yuan, there are a lot of VERY high cost lithium methods especially in China that will no longer be profitable and will help diminish the supply side.

Interested to see how high spot will go again when restocking needs to be done.

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It's not about pulling out they aren't in they are just turning over huges volumes every day just about with very small residuals each day.

It's like they are playing the house at the casino taking the profits on the green 00.

Or at least their bot is.

I'm not sure what the strategy is of both buying and selling huge amounts for almost nothing gained each day (or what appears) I'd be happy to be educated in this strategy.

They never make a top holder despite the millions traded every day.

Last edited by asxDragonslayer: 04/04/23

AGY Price at posting: 42.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 4.2¢		Change 0.002(5.00%)		Mkt cap ! $61.14M

Open	High	Low	Value	Volume
4.1¢	4.2¢	4.1¢	$17.38K	420.6K

Buyers (Bids)

No.	Vol.	Price($)
5	450601	4.1¢

Sellers (Offers)

Price($)	Vol.	No.
4.2¢	146892	2

View Market Depth

No.	Vol.	Price($)
4	425501	0.041
14	1161855	0.040
11	3139102	0.039
13	681280	0.038
11	1066018	0.037

Price($)	Vol.	No.
0.042	146892	2
0.043	120000	1
0.044	382711	3
0.045	123242	3
0.047	98988	2

Last trade - 16.10pm 06/09/2024 (20 minute delay)

AGY (ASX) Chart

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It's not about pulling out they aren't in they are just turning...

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