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The best sell quote I can currently get is 2.95p and there is only 1 market maker quoting a price.
There must be a big sell order that they are trying to work. Perhaps they will smash the offer down to around 3p to try and get some volume?
Well well!! I can't fathom this out at all. I was expecting a load of "cloaked trades" to emerge this morning that were delayed reporting, but that does not appear to have happened. The stock opened yesterday, traded just over 2300 shares and dropped like stone and all the later trades were BUYS!!! Doesn't make sense. I can only suggest that there were some very big trades that have not appeared as yet because the MMs are using their discretion not to declare them immediately. Furthermore, it appears that tomorrow is the last day for the exercise of the 7mn or so warrants issued in 2020. Strand Hanson have already exercised theirs. I am assuming that Peterhouse have not, because there has not been an announcement that they have. I can't believe they would just let them expire with profit on the table, maybe they have been shorting them over the past few months through an MM (MMs don't have to report shorts) and the exercise will allow them to give the stock back to the MM who helped, thereby squaring its books. Given there were still around 4mn warrants out there by my calculation, that could explain why the stock has been weak over the last couple of months when really nothing has changed!!!
LEX has very supportive shareholders, has a sugar daddy (Creasy) Lots of cash, a huge potential asset in the form of the South African stuff... what's not to like? I am going to look down the back of my sofa set and see what I can dig up. We all thought (with the exception of Mr. Long) that this was cheap at 6p.... at 3.75p its totally nuts!!! Have to credit Mr. Long for holding off though, maybe he'll be a buyer now??!!
9million shares were issued to Sunswell Holdings Pty Limited in the recent acquisition so perhaps this company is selling
Someone must be dumping. It is currently 2.95p to sell so huge spread
Anyone know why this has dropped
Yep but with inflation coming down globally, things maybe turning soon. Rate rises seemingly are over - all the attention now is how quickly the cuts come. I think they could be as early as end of Q1 2024. Is this the bottom for metals equities?
the market for natural resources has been absolute c**p for a couple of years now, but the action in lithium over the past couple of months may serve as a reminder that there is value in the mining sector. we've had fun and games in oz with liongate, albemarle and the han**** lady. just today atlantic lithium rejected an offer pitched with a 60% premium. our own shareholder, mark creasy is cashing out his holding in azure lithium and selling out to sq. and guess what, the lithium price is still drifting down, despite the excellent outlook for demand. yet the gold price remains close to its all time high and diddlysquat is happening to gold miners.
maybe the lithium market is the trying to tell the wider natural resources sector that there is serious value out there. time will tell.
Why the market is so dismissive of this share is beyond me. Its just been announced that Azure Lithium, in which Creasy has a 14% stake, is being bought by SQM of Chile for A$1.6bn. That's 1,200% upside since the beginning of the year. They are paying cash. SQM is a major Lithium player from Chile. I can't even see that they have a JORC compliant resource though Azure says that it has a target of 100-120mn tons of Li2O at a grade of 1.5%. Not a bad stash. And Azure hasn't even broken ground on a plant yet. It really is an extraordinary deal....
But the point here is that Creasy has yet again proved that he is more than capable of identifying world class resources. This time in Lithium. He obviously has faith in LEX management and the way the deal is structured, it means that Creasy is committed to putting in MORE cash once certain landmarks are reached. Why this stock isn't trading at 15-20p already is beyond me!!
If your boots are not full of LEX yet, they should be!!!
I get the impression that the SP will stay the same in the 4.6-4.8p range by COB today especially with markets at the moment.
It needs news (good) to get the SP moving IMHO.
Think we may trade above 5p before end of week. Lots to look forward to here and really silly low valuation
Well it traded 11p on anticpation of this asset in South Africa being acquired, huge potential
Now its sat at major support between 4.5p-5p... They have a boat load of cash from the 6p placing and they have the Gold asset in SA.
Expect lots of newsflow and progress from here on in. If they prove up 2-3m oz pretty quickly it could be trading at 20-30p quickly
BEEs come in two forms, leeches and contributors. The Leeches are all ANC lackeys out for what they can steal off unsuspecting investors. We are lucky to have a very serious one.... They have a reputation for being hands on investors and having the right contacts to make it possible to get things done. Yet more good news, anyone who is not filling their boots at these levels 1) doesn't know the story, 2) has their boots full already, or 3) has a mental impairment of some description.
Isaac Shongwe is a business man of international renown. This is surely amazing news bringing on a partner that has a track record like his.
Now that’s completed we should start seeing interest build and lots of progress made. It won’t stay under 6p placing price for long
Twotwats, Paris1981, is related to my most memorable life experience, when Barny Rubble AKA, Alan Kennedy ( left back Liverpool Football Club) when the mighty Bob Paisley introduced full backs that were attackers when Pep Guardiola wasn't even born.
Go on you tube, that's me in Paris in the Liverpool end when Barny bangs in it in ( Yellow T shirt on )
But your probably into Rugger
Cos you're a tory Twat
I'm from Huyton born in 62
the home of Harold Wilson bye the way.
Karl Marx once said everyone should travel first class.
That's why I'm doing this you 🛎 end we weren't all born with a silver spoon.
15!!! today!!!
Twotwats, said it first folks, 15p on Monday, get in there quickly, sell the house, sell your car, sell your mother in-law ( well then 10 Bob to the pot) and chuck it all in Lex
This time next year RODDERS
Twotwats will remembers you if it goes 🍐 shaped, his mate Rubdull does a good line in huck up 🎪 if you end up homeless
Over a million shares offloaded it seems going by the SP’s quoted.
What I have noticed Is that these large trades are in grey and not red which is interesting.
The company just hasn't been found by many yet which is often the case esp in a bear market.
A news catalyst should see this rate very quickly.
Back by a considerable asset base and a noted significant investor in the mining world.
That makes the share drop understandable. Didn't see that. Thanks.
Fingers crossed that's the warrant selling cleared, if it is, then as it moved down swiftly on low-volume it will move back up swiftly also.
It was actually warrant holders from lower down. Not sure why they decided to cash in now and not at 11p but hey i've mopped some cheap stock up as a result so not complaining
Seller gone now so should trade better from here especially as newsflow & PR kicks in
Looks like a distressed seller. Bear markets make for twitchy hands. The low price just creates a fear feedback with no news.
It's created an incredible opportunity here imo.
As stated below Mark Creasy was putting money into the raise at around 6p expecting a lot more upside. It’s another one of his prime projects.
This is just beginning.
Watch this space. Expect things to get busy again with drilling announcements and things keeping off
The WRE asset in SA is huge and transofrmational to LEX as a compnany. Look at who's involved, Mark Creasey is a multi billionaire in the industry.
LEX is fully funded from 6p placing and its trading at 4.5p.
This has got multibagger written all over it.
Great price to accumulate now. Looking forward to the news flow.
SP needs to stabilise as it has been going down 1/4 p or more most days on little trades.
5p did not hold so 4p seems to be the next important level.