I would love 10c to top up, but I just do not see it unfortunately. Sure we will have forced sellers & distressed sellers (especially UK holders from the AIM:ALD days), one thing we will NOT have is shorters dumping the price.
For every holder that wants out, there will be another who sees a glaring opportunity & I suspect a few on this forum fall into said category ;-)
Have a look where the markets were in March 2009.
Have a look at the Ni price in March 2009.
Compare to today.
Do you know of any other stocks that are just now returning from suspension at the nadir of the market collapse, that are very profitable at current metal prices, with a new Board & the backing of Jinchuan one of the largest Ni companies in China (life of mine offtake included)? Not to mention the uranium JV's in for free...
If holders want out at the very first opportunity I can not blame them. But having suffered 18 months of hurt, what is to be gained by dumping from the off (consider the afore-mentioned forced sellers holding down the price initially)? Show me another stock that I should sell ASX:ALB for on its immediate return & plough my hard-earned into instead?
Dilution yes, but only ~2x since suspension. Full dilution of 4x only occurs on full conversion by Jinchuan, why would they choose to do so?
So we have a high-Beta stock that not too long ago (end-May 2008) reached 510c & suspended for the final time (March 2009 - remember that was not the first suspension) at 4c when priced for imminent failure with 2x dilution after 18 months of market recovery.
You pays yer money...so yes please to 10c or below gimme gimme
ALB Price at posting:
3.9¢ Sentiment: Hold Disclosure: Held
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