LRS General Discussion, page-4996

The last couple of weeks has seen a stunning SP performance, backed up by some good assays and a CR which while I’m not overly happy about the options price, to be frank not in my wildest dreams did I think 1 month ago we would be raising $35m at 16c

However blind Freddy doing due diligence in investing here knew at some point some resemblance of true value would be assigned to the companies SP based on its assets.

Now an SP does have an uncanny habit of trading back at a CR price, not all of the time but a lot. If it were to I think there would be good support around 14-15c price range.

That is a potential negative that should be considered IMO.

For the lower gaps, you are looking at massive retraces. It would need a disaster of an announcement, plus I think the sheer volume traded the last 2 weeks has given ample opportunity for those who want to leave to do so, and get some freshness in the registry.

The positives I see though are that the sector as a whole the last 2 weeks has had another correction. As examples the below current SP off recent ATH.

AVZ -14%
CXO -18%
FFX -16%
LKE -24%
LTR -24%

So LRS has bucked the trend.

As a general rule the Li sector tends to run in unison “a tide lifts all boats”.

Now most companies have already added 5% from the bottom to get to where they are today, so the tide has started to come back in. US Fed meeting on the 4th May being the next macro hurdle for markets.

Something else that is at play, is that I think some coin was taken off the table with other Li stocks that have run hard and that money is looking for a new home.

I made good coin with GXY (now AKE) and PLS and diversified with some of the profits that had CGT disc. A common occurrence. Are the above 2 companies going to give me another 100% gain in the next 12 months?

I think LRS has started to come on the radar as a new possible big win stock.

Sometimes the best thing to do is nothing, and currently my strategy is going to be allow this to run if it wants to.

Good luck to those selling looking for re entries. It’s a strategy I use a lot with retraces on many companies, but I’m not so sure if that’s the best option here IMO.

Just My option and not financial advice.

GLTAH