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strong similarity to Rockhopper(RKH) a few years ago and spookily it was at the point where the sp fell to around 30p that it suddenly rocketed.It was all doom and gloom as negative sentiment sent the share plummeting then suddenly it took off big time.I made a small profit more by luck than judgement but I feel the drop was manufactured at a time when all the fundamentals looked fine.
Now we have a proven resource and if Gangfeng dont snap our hands off at 25p a share there must be something terribly wrong.I suspect the Rockhopper effect so let's wait and see.I can only assume that M&G being a large institution did their own DD on this,ditto Hanwa and Ganfeng.
It is usually when real panic sets in that suddenly the sp rises strongly.If there is a real reason for the drop lets have an RNS please Mr Secker.
Sedaka, some will just bury their head in the sand and say whatever they think it takes to prevent others selling and risk impacting their holding. If you really believe in the share or the project, you have no qualms saying it how you think it is. The bottom line is, since end of July this has fallen from a 47.25 close at July 30, to the current price of 33. It has been down EVERY session in that period, with not one up day. Even today, we've barely mustered a 1p rise (after the extent of that drop), and already that is becoming under pressure as 33p sells are coming back in. Do I think this normal profit taking? No. Even if the worst happens and there is a Ganfeng issue -which is what seems probable to me based on this price action- I still believe in the project and will continue to hold as true value will eventually out. And it cannot sustain NPV of assets in the billions, on this type of market cap, forever. It might just involve more setbacks before we see it.
I'm on a free carry here so can afford to watch things play out long term.Its just a delay in news nothing more IMHO
I concur, Sedaka.
Putting it bluntly, and obviously only in my opinion, PS has made a complete pigs ear of getting this funded. It's good news, if one ignores the price, that the Chinese are wanting to invest (I believe they will get approval), but it will completely remove any potential excitement that may have been generated by this being a takeover target.
I am also perplexed by the fact that the existing institutional shareholders have been so unwilling to fund the development (remember the many claims from PS that they would be joining-in? What happened to that?)
This is such an interesting project, but I can't help but think things would have been very different if another person had been CEO.
So much for my dreams of £5 per share.
Says something....that I feel a little more 'relaxed' that the dip has been reversed to 6.9%.
My overview has been 3-5 years since investing directly here last year (after coming to the conclusion that investing via KDNC made little sense - especially since they've been divesting).
Following daily fluctuations and esp. intrs-day fluctuations is a mug's game and bad for the blood pressure.
The fundamentals for this lithium company are sound....to say the least.
We cant take advice on guessing or gut feeling, my view is a mixture of remaining shares sold by KDNC and also twitchyness about the delay to the final stages of the Ganfeng agreement sign off..I am irritated but sitting on my hands...
You may recall that last week i felt uneasey with this share. As I stated I have been a market investor for many years and now my unease is gathering pace.My sentiments concurred with MikG . I woder if islandgirl still remains just as positive with her great buying opportunity .Ithink we should be told. For the moment treat this share with extreme caution is my advice for those who wish to take it .
I for one am leaving my money here. Too good a prospect to Ben moving on. Bought in low so waiting for the £1 before I think about anything else
If there was any adverse news BCN would have had to issue RNS. The sellers are probably showing a profit because of rise and are moving on.
It shows again how extremly volatile this share price is, with little buy packages of 10k's you can move it up. Be patient, this is AIM :-)
have a loot at the weekly chart... support line is broken we are heading down till next support area (30-35p) ... i still hope for an emerging big inverse SHS formation, now developing the right shoulder ... if confirmed with target above 70p (last swing high + size of running correction ...)
but this is theory only as I don´t own a crystal ball, all depends on release date of next RNS which will be the trigger for the next move which could happen any day now ...
"If the volume is poor then how can someone know something?"
Islandgirl, you seem transfixed on playing the man and not the ball. Why would there be volume if someone knew something? As I'm sure you are well aware through what I imagine is your vast city/corporate experience, all news has to go to brokers/nomads for review, wording, approval etc prior to release. On AIM, this creates slippages. Are they picking up the phone to tell M&G to dump.. of course not.
What is clear is that its dropping like a stone, and still not one institution wants to go near it to buy the dip. For a company with projects NAV in excess of about 20/30 x the current market cap, doesn't that seem a little odd? Maybe Ganfeng walking it down to buy the whole thing on the cheap? At this rate, it wouldn't cost much to take the lot. The only thing I know is mid 50s to low 30s on zero negative news is very odd for a company that on paper is so undervalued.
If the volume is poor then how can someone know something?
I remain my view that someone knows something adverse, and only a positive Ganfeng update would change that theory.
You cant be wrong with that statement!
Maybe, how would I know? I have no idea if it is an II dropping stock, or the way the market makers are working it - who knows what it could be. The volume is pitiful which makes it all the more suspicious. Not even Friday was an exceptionally high volume day to warrant a nearly 12%.. chart wise this would look like a massive headfake down on low volume if the Ganfeng confirmation were to come through, or the company were to release something remotely positive having created uncertainty over the now 3-pronged approval process.
Surely a holdings RNS soon then?
Capitulation selling continues, and people seemingly desperate to exit (again, taking below the bid to sell, just like on Friday). Anyone who talks of panic Friday is wrong - there is no panic - it has been orderly selling for the best part of a month, and has seen price drop from 56 to now 34 (and falling aggressively). If that does not create cause for concern for some, then good luck to you, but all uptrends and positive signs have now broken, as this has been a pretty spectacular collapse. I remain my view that someone knows something adverse, and only a positive Ganfeng update would change that theory.
No idea..theres still a seller about but not sure who
Why the collapse in sp? Anyone know?
Has changed name to Mr 15,000.
Thanks for the offer blackwash, but I don't want a medal. I don't really need your advise either.
Sorry ADV1, what do u want, a medal for 1st in and last out? We all have shares we have had that experience with. I think I first bought in at 1.05. Whatever. The fundamentals and timeline now are pointing to accumulate on this for a 2-3 year window into production and beyond. Patient shareholders will do well from here.
I see VSA Capital has target price of 114p. Do they give a date for this to be achieved?