I don't care what anyones says, this has been a terrible trade for shorters, many are down 20-25%. I know plenty of people that professionally short, this breaks all their rules. They generally look for limited downside risk (if they are wrong) with heaps of upside (if they are right). A mismatch of risk and market. And that is not the case with ORE and this trade.
However here they have both bullish macro and mirco sentiment. They are only another 400 tonnes per month away from having their heads ripped off. Personally I would find it hilarious if after 6 years of overstating / under delivering, Richard over performed for the half year. ORE currently has that feel to it.
I have two cautions today with ORE. I'm surprised to see GXY sitting at all time shorting highs, roughly 11% and growing. This is interesting, their share price has appreciated while shorts grow. Is this a macro lithium play by the shorts or something more specific to GXY? I guess this is the wrong thread to ask. And secondly, I was hoping to see a bit more tonnage coming from
@Audax77 . I know it is winter, ponds rebalancing etc etc but i thought we might be seeing a little more by mid-Sept. That is yet to be the case.
Anyway, $4.30 is much nicer than $2.60. A very interesting 6 months ahead for us.
