Indeed, the drop is a mixture of poor economic outlook, missed time line, chinese spot price slump,
LTHs selling, concerted SP capping etc.
I llike to point out it is impossible to fight the tide, and for a foreseeable length of time the economy will stay cold and depressing to make all things look extra gloom.
Facts are we are producing tons of lith every month. These products will eventually get sold to someone and generate income.
They have also started work on the 10k plant ahead of permit grant so I guess they are pretty confident this is only matter of time they get the approval.
Lith will stay in demand and very likely be in deficit
Chart have indicated 20c on wave C correction elliot wave, hard to say if we are to drop further than this but I doubt it will by much if it does. All depends on macro but will not be long lasting.
All in all, the odds are with us, however, the inv. stment time line has just gone that much longer than we all anticipated.
Watching my paper gains washed away but for reasons I am not too fussed. Have I gone numb or I am just that comfortable knowing things will get better at the end? Time will tell
AGY Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
