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02:33
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Originally posted by speedyl:
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Geeze these threads are just rubbish these days..all this BS talk about the SP being smashed because the SPP was stuffed up lol. IMO the ASN SP wasnt smashed that badly when compared to others who have also done CR's recently. Call me a Bruce lover or AGY lover I dont care but reality is AGY SP got hit hard (and yes I'm a holder and not cross promoting here) from 10c down to 7c after what IMO was a good rights issue to reward LT holders. TCB's beloved LKE which he harped on and on about being how ASN should have done their capital raising got hit hard too from 9c down to 6.8c so in the scheme of things ASN dropping from 6c to 5.5c isnt that bad and certainly isnt out of perspective to other lithium stocks which have recently done CR in what ever form. Reality is that all battery mineral stocks, (and maybe even all spec resource stocks) not just lithium specs, are out of favour at the moment. I dont agree with 1S1 much but I think he is on the money when he says one (well we at least know of one) or 2 top 20 have been selling out on the recent announcements and IMO that is what has been pushing the SP down for ASN. I was talking to the chairman of another company which I hold shares in today, which is also in the battery mineral sector , and he said exactly what I was thinking. Since all the media hype about battery mineral stocks in early 2018 many uneducated traders who expect to make millions in 2 or 3 weeks have entered the sharemarket and are betting on it like the punters do on ladbrokes and other betting sites. These betters have no patience and when they dont make their money quickly they sell often at a loss and move onto the next shiny thing. This has meant fewer long term holders and any good announcements being sold into heavily. IMO the reality is that EV's are an evolutionary move that cant be stopped and these day to day SP movements mean very little in the big picture of how the world is changing and to change alot more lithium and other battery minerals will be required. Its certainly not for the impatient or those that watch the SP every minute of the day but IMO the long term patient holders will be well rewarded in the next few years.
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Outstanding post @speedyl , I do not hold shares with ASN, but have been actively researching the company, part of the research has been reading the entire old fireside chat, it is a little off putting to read ASN holders ripping into each other!! Lucky for me I don't rely on HC for a lot of advice although I get great enjoyment from, and insight from whole hearted posters, I'm not sure belting the crap out of each other is very positive, IMO, ASN is a little ripper, 30m cap, I think they've progressed at a rate of knots, 99% pure??? Gotta be the only ones with that sort of pure!! And at 5.5 cents crikey!! Great post speedy!! I'm in!!
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