Brazil basically "undid" the sale that should never have happened to Canadian junior of a pre-existing deposit discovered and drilled out years ago by Petrobras (gov agency). Quite different to nationalising a lithium deposit discovered and scoped out from scratch under exploration licence when other lithium mines are operating in the country. Potash has been deemed in Brazil's national security interest, meaning food security, and is a somehwat understandable stance given the importance of agriculture to Brazil that import all their current potash requirements. Argentina will never be an end user for lithium I'd say and would have trouble selling it to the west under sanctions if they nationalised lithium deposits against the rule of law. Anything possible of course.
I doubt weather ORE would count towards LV ratio for any margin fascilities being absolute illiquid minnow. I'd say that fear and necessity has brought out a few sellers and I could list 100 reasons right now that somebody would need the cash or just can't stand the pain.
Doubt much will be shaken out mid teens but then again nobody in the mood to buy more in the 20's either by the looks of it. Just have to wait out the storm.
cheers
ORE Price at posting:
16.2¢ Sentiment: LT Buy Disclosure: Held
