Originally posted by billyen
Honestly,
I've been VERY disappointed by the SP proformance the past 2.5 months.
The stock has NO business being under 40. NONE!
One of the problems we've had isn't newsflow or the content of the recent newsflow but, the investors/traders who've bought GLN/DMI in that time and before.
Ppl. are buying it without DTOR...they are thinking GLN is JUST ANOTHER lithium play hoping to pop on some news...looking for a 30-50% move.
Do the math on this...we've had about 15M shares traded...most weeks...less then 1% of the shares O/S have caused 5+% downward moves.
Many of these bought for a fast buck and sold because they...as I liked to say...needed spare cash.
On a lightly traded stock light GLN...that's bad.
JP and Co are out there getting it done. (even buying shares on market with their own cash)
Right now there's JUST 30k to 40 cents and that's about right.
Sure, more SHs who haven't DTOR will be excited by a 30% profit but, most of us know.
We'll see more supply before 40 but, honestly...WE SHOULDN'T!!
Holding here is the go. Atleast to we get to a decent valuation.
A POSCO deal valuation is $3.50- $4 (based on a 1.5M ton JORC). I don't expect everyone to hang in there that long but, honestly...REALLY look at the numbers. After the NEW GEO results and the start of drilling...GLN should be closer to $1 then 50 cents IMO.
I just haven't see such a easy bagger in 20+ years.
Again...it's up to everyone risk/reward ratio...but, good luck finding something like GLN under $1 on the ASX right now!
IMO
DYOR!!
One thing I don't really get Bill is why are we securing the tennements to the west and north at Hombre Muerto ?
Are we just doing it to keep anyone else out of the area or to genuinely create other brine producing assets.
