I am quite curious what moves NMT´s market cap. Out of three...

I am quite curious what moves NMT´s market cap. Out of three major announcements this month, only Barrambie moved the needle. I already posted my ruse that the ELI-refinery JV had no effect on NMTs market cap. Agreed the markets were/are silly at the moment and no amount of good news could have moved them last week. It was mentioned that news was priced in and that is a real possibility considering today´s bump in SP. It is possible that today´s gains are real since the mood has somewhat lightened. This will mean Barrambie is not yet priced-in. Which also mean news from Vanadium recovery will give a boost as well. The argument that others are JVs may not be that relevant (we moved 300% this year, a lot of which was due to news from our JVs)

Now that I think about the last couple of months, the SP has been moving in correlation with the Lithium sector almost on a daily basis. Simplistically, If one looks at LIT-ARCA ETF, between mid-August and October the Lithium sector was flat (slight decrease). NMT had a huge boost just before August on the decision to fund commerical recycling operations. Curiously on August 10, NMT jumped 10 cents which coincides with JP Morgan´s call to ´buy all lithium´. But then between August and first week of October NMT´s SP (like LIT) was rather flat despite temporary loss due to WIN demerger. LIT took off again between October and November. This time NMT rose as well but without any major announcements. Infact, the announcement on full commissioning of the demo plant came 26th October which did not move the needle much. There was an increase the previous day If I am not wrong (leaky ship?). So all through October NMT has risen similar to LIT till first week of November when LIT again traded flat and has dropped lately. NMT similarly has remained after 1st week of November. The message I take from this is the news from ELI and battery recycling did not help much either because 1. general Lithium sector is down and NMT sort of correlates and 2. the significant MCap increases prior to these announcements with the Lithium sector could also mean some knowledge of our Lithium operation was out there and therefore priced in (also suggested by several others. I just tried to look for correlations).

However, when we start earning revenue none of the above will matter. It is satisfying that NMT will have diverse income streams and will hopefully be less affected by sector related fluctuations. If NMT holds 1.00AUD, it would have held the MC quite well. 2022 is a different year. Much more to come in my view.

I might be seeing patterns that are not there. In that case, apologies.