ALB was as high as 10% up today after returning from voluntary suspension from listing and finished the day 4% in front with more buyers than sellers (311k vs 256k).
The company has secured funds to see it through from first production a few months ago to full production in a few months time. The full details of the announcement are available by clicking on the announcement posted on the ALB list.
The ASX lost 2.68% today, which indicates how strong the buy pressure must have been for ALB stock. On the next market uptick ALB is likely to surge up to around 50c ~ Jinchuan Group has just taken nearly twenty million at 40c and ALB last traded at 26c. One suspects that the Jinchuan executives aren't bunnies and that they expect their investment to be profitable.
Robert
PS I'm handing in my ALB optimist's badge - someone posted a sell order at $2.40....I can't compete with that.. :)
ALB Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
