I suppose many here experienced the slump in 2018, and then again felt the magnitude of March 2020. PLS was down to 13.6c, ASN 1.2c, AGY 2.6c, GLN 13.6c not to name many more.
Unfortunately for myself I had not obeyed to age old philosophy of keeping at least 30% of your capital on hand, jeez that’s a great rule of thumb and literally cost me millions. Imagine having bought $40k PLS at 13c, imagine buying $100k GLN at 13c. I guess I wouldn’t be writing right here right now if I had??
Moral is we are still in the infancy stage of this energy transition, our stocks get hit the hardest as the general investment market still regards us as speculation stocks.
The thing the general market fails completely to understand is there is an energy transition at hand, they don’t like it as they have had generations of stocks in the non renewable sector.
So I guess as much as we love the sector and rightfully so the public in its majority has their head in an oil well.
It will take time and further investment money to convince the so called unconverted to change their chine. It’s extraordinary to talk to soo many smart people who have soo much money tied up in oil and gas. They do not want another picture painted as the the one currently on the wall has served them fine for the last six decades.
I talk to a lot of people every single day with more money than I could hope to make in a lifetime. If I won 20 million tomorrow I would not be in their league. The difference is I understand change, some of them just don’t get it, stuck in their ways and very unwilling to invest in a sector they regard as futuristic!
Sorry to change tune here but I deal a few very large investors in AGY and they seem to get it
I have significant holdings in both with roughly equal monetary value, I guess we have to wait for GLN to be fairly valued, it is certainly not at this price or anything less than $3.00.
It’s almost embarrassing that we sit here, with our resource at 5.8mt with significant upgrades to come, the lowest impurities in Argentina, if not any other brine project in the world?
We have frick all shares on offer, and I well understand it does form a liquidity issue in which said causes limited upwards momentum, but when it does and will run again it will be hard.
Just got to bite you lip occasionally and wait for the market to find it’s feet again, too many fickle occurrences at the moment for one to hold too much hope short term.
We have inflationary pressures that should see some positive effects mid to late 2023, we have this stupid war in Ukraine, we have this stubborn Covid policy in China.
On the positive shipping costs are down and we should see pre pandemic costings soon. The Feds interest rate spikes are always leading and the tail tends to catch up sooner than later. I think they will be cutting them back by mid next year.
In conclusion I think 2023 will be a year with all the investment seasons combined, however I think the forecast recession will be very shallow with a v like recovery well before the end of next year.
Happy for some to offer differing views.
GLTA.
GLN Price at posting:
$1.43 Sentiment: Hold Disclosure: Held
(20min delay)