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I topped up first thing to average down this morning, as I considered the price ridiculous and had to be the floor ( or damn close to fraction of points ), but nope..... It went down further DOH!
It's not like it's impacting revenue's as much as many other producers.. It'll come good and my top up is well placed, if not timed a little prematurely.
Buys & sells roughly equal, so like the drops that have preceded us to arrive to here, this is market makers (one in particular) walking it down to a derisory level under the guise of some sort of correlation to the coronavirus outbreak. It's not as if we have a persistent II or other large seller dropping constant big sells on the tape. The investors are long term, supportive, and big names.
The future is coming; EVs will be mandatory going forward and lithium demand will grow exponentially, irrespective of people losing their mind over this virus. Emissions will not become less of a priority even if it gets significantly worse. There is a reason Ganfeng, Lithium ETF, Tesla ETF have all been making new highs of late. Unfortunately given its AIM listing, BCN has floundered even against that backdrop.
It's now cheaper to buy than Ganfeng or M&G paid, and I wouldn't be surprised to see the balance of this company go for a song if this walk-down continues. Any time any sell hits the tape, JBER are dropping the ask and forcing prices lower. They are working on behalf of someone, so as ever lets see who in the background this unjust price action benefits.
Looks like the market is as unimpressed as me....
Both Ganfng and M&G paid 25p for the shares they purchased. IMO the only way is up.
Imagine, each company would just postpone the due dates every 6 months and use the word „may“ in a annual report. As this virus is outside and the market was just waiting for a correction, I will look again in 6 months into it. I do not expect a much bigger drop but neither a up movement..
I know, the Chinese can build a hospital in a week,that why I don't know why the RNS is so drab and uninspiring, as if he wants the SP down. I'll read it properly later incase I've just woke up in a Monday Morning bad mood!
With ganfeng on board I wouldn’t be so sure about slippage
IMHO
So 6 months review, 24 months construction, at least 6 months slippage based on historical missed targets we are now summer 2023 for Sonora?
Sorry guys but this sounds like BS to me, they initially said 6 months and now it's another 6 month, what so they didn't even start before the virus hit?
Plenty to read but they are anticipating up to another 6 months for the Ganfeng review to be completed. This has been caused by the shutdown in China due to the virus. No
Cash at 31st dec 48.9m US
It looks like they keep a tight ship
IMHO
Pleased with results timing to production could work out perfect with demand due to increase
Positive update
IMHO
Plenty to read but they are anticipating up to another 6 months for the Ganfeng review to be completed. This has been caused by the shutdown in China due to the virus. No news on funding. Otherwise, good progress on the ground being made.