Hey mate, appreciate your honest posts over the time I have been reading HC. You hammer the garbage posts on here, its great.
The issue with Galaxy is the make up of the share registry. There are too many retail holders. Instos missed the lithium run and now want a big piece of the action, if not the whole lot. Hence the boarder line corrupt reporting on all things lithium (over supply ring a bell?).
I have long suspected that galaxy and other lithium business have a large supporter base of shareholders that speculate on penny stocks. They got in early and rode their luck to some form of richers and are still here whinging today as they slowly watch some of their wealth erode.
Here lies the problem (in particular for galaxy), in that the share price will continue be held low by instos. This is a war of attrition and will continue regardless of how good any announcements are, until such time as they have achieved this redistribution of shares from retail to insto.
Long story short, we need a full clean out of the registry and it is currently underway and has been since Christmas. This target was $2 and that was achieved with relative ease.
Once this has been achieved AND ONLY WHEN, will the share price be let go and we will see underlying asset value reflected in the share price.
For the some this will allow further accumulation at cheap prices, setting them up for a sound financial future. However, for some this will result in a re adjustment in investment time frames or forced to simply sell (no doubt at a loss by now) to the instos accumulating in preparation.
Good luck to all longs, the report was a cracker, which I am thoroughly looking forward to digesting in detail over a cuppa tea tonight! I am a big fan of the Twinnings Australian afternoon tea, however I might just treat myself to a Camellia sinensis (Argentinian drop) tonight.
GXY Price at posting:
$2.15 Sentiment: Buy Disclosure: Held
