And All, There was plenty of supply last week, that 250k block at $1.27 was available for anybody to chew on ~
Some of the problems being that : 1) There is an incentive for Brokers to keep the ASX price down so they can make a 10% profit simply by transferring them to the LSE, 2) Said Broker is controlling "Sentiment" by placing "Stop Blocks" whenever the SP looks like rising (or falling too far) 3) There is a small but active group of DT's that are taking advantage of the Pump and Dump cycle, 4) There was/is a Short Seller intent on closing out his position at as low a price as possible, 5) Negative sentiment being fed by Chartist's who happily ignore the fact that because ASX-LSE trading is now almost continuous "Gaps" will occur in both Charts anytime the SP is rising. 6) ASX and LSE play "Follow the leader", when one Panics the other follows, which becomes a self sustaining cycle. 7) Potentially there are plenty of "entities" out there who do not want to see Longongo succeed, Competition, Various Gov'ts, Ex Directors,..... 8) One or two erratic Bots, whose owners obviously do not keep close watch,
Any one of the above can have an effect on day to day Sentiment, combined they can form a Trend.
There is one sure way to defeat these attacks; Before you are "Panicked" into selling, take a deep breath and consider the Fundamentals: Longonjo is a World Class ESG Deposit, Coola has the potential to be just as good, most of the critical Infrastructure Rail, Port & Power is already in place, It is supported by our Hosts and UK/EU Government Policy, Demand/Price for NdPr is rising rapidly, We have a highly talented and pro-active BOD. The World desperately needs to transition to the "Green Revolution"
Balance all of that with whatever reason has spooked you, and you should forget about selling ?
PM8 Price at posting:
$1.26 Sentiment: Buy Disclosure: Held