IMHO I think the NYM share price has been influenced largely by the drop in the price of Lithium.
From The Motley Fool:
The lithium carbonate spot price just dropped to its lowest level since August 2021 at US$15,182 per tonne (p/t) amid low Chinese demand and increased global supply. This represents an almost 80% fall in the carbonate price in 2023 alone. Unsurprisingly, this has dragged down the value of ASX 200 lithium shares over this period. ... Top broker Goldman Sachs has put out a note lowering its 12-month forecast for lithium prices again. The broker was tipping US$15,000 p/t for lithium carbonate but is now forecasting US$11,000 p/t. It was also predicting US$16,500 p/t for lithium hydroxide and has reduced that to US$12,000 p/t. Core Lithium Ltd (ASX: CXO) shares are down 76%.
So it may be close to the bottom now. Personally I'm happy to keep buying the dips and accumulate. The NYM storey has only just begun and a lot more assays to come back in.
DYOR. This is not advice.
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