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IMO, the exploration resources and logistics/experience of RTO takes the weight of the shoulders of ATN for Rwanda. Which means their (small) cash in the bank will last longer IMO. Their own cash burn will be less. As I see it anyway.
Yep it's all about the cash in the coffers.. Tomhuk is correct!
With only £110k in the bank as of last December and only £200k upfront payment from Rio Tinto (as well as £100 next year) the company are likely going to need to raise funds.
Extremely surprising. The bag will come I’m confident.
Background seller or its being played to keep the price down. I feel the latter. 2M buy just went through at 1p
The sellers held this back yesterday, on the news it should have been 2p. Sellers won’t be around forever, and a big bounce will be on the cards.
How surprising, anyone ?
For me, it's a fantastic company with a world class JV. The fundamental have changed for the better and with the guidance, experiance and financial support from Rio this company with thrive. Yes they are small with little overheads and liquidity, but that's all they need. Once they are developing the project, constructing the plant and producing product there will be deep pockets needed, but luckily they have a strategic business partner worth 160 billion. Is there any downside ? I can't think of any.
Should fare much better next few sessions. Target 2-3p. Jv's with Rio don't grow on trees.
Well I reckon there may be a placing done on the basis of the good news to drive the JV forwards. It's all good tbh... BUT that depends on the rate they've raised at...IF they've raised. Todays market action seems to point in that direction IMO
Can somone explain todays trading please lol
From the last Dec 2022 Financials it was £110k.
They’ll receive £200k from Rio on sign off of the JV and then £100k next year from them.
Is it enough?
One wonders why this has retreated with such good news! Anyone know quickly what their cash position is?
Or take out profit and then buy again :)
What’s our cash position looking like as I think many will be wary of a placing?
It is simply crazy, that the share price is red after todays news. Expect this to re rate over the next few sessions. This kid of news can’t not go amiss for long.
Have bought some more while it's still red.
This has to go north violently at some point
what's not to like?
lithium... a hot commodity, tick
big partner. Rio Tinto mkt cap is 168,06B
Most of Directors and PDMRs of the Company bought at 1p over 2 million each around May time. Unbelievable opportunity to buy again around same price after this RNS.
Only £300-400k of shares traded today in total, not allot. It wont take very much volume for this to absolutely fly once the current sellers are bought out.
Imagine selling a stock that just received this RNS, it's unbelievable really. It has to be some short term profit taking, and can there be many sellers left ? I'd want to hold this until at least 2p+
No idea where all the sells have appeared from. The IPO placing was at 1p so there is hardly a justification or panic to sell them at 1.10p as has been happening all morning. And some buys were at 1.39p and even 1.40p on opening - a 1,000,000 buy has just gone through from 8.01.12am. Very strange.
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Price prediction 2p in the next month, once older shareholders sell out and the first institutional shareholders come on board.
Medium term target 5-8p on production and sale of Lithium
Long term target - too early to gauge, we need to see some estimated volume of Lithium to be mined. Likely takeover target.
Buyers at 1.245p now. As soon as the sellers go - and there have been a lot of big 500,000 sells almost since opening and at a silly low price - then this should motor on upwards as the buying is strong.
Maybe a podcast sometime.