George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
This is back to where it was in Dec 17 allowing for the consolidation so is this bounce the bottom or has it got further down to go ? I think battery electric vehicles are a environmental disaster in the making and hydrogen is the way forward but unfortunately the people in charge seem to be fixated on them. It could take years for the penny to drop . I'm no chartist but I would like to see it test 130 again before I put any further cash in this share.
This is the second big drop if past experience teaches me anything there may well be a third , it hasn't dropped so far yet but I think it's avoid for now . I bailed at £11.50 just before the fund raise at £12.50 so was thinking I had made a big mistake having bought more at £7.50 , I still took an overall loss . You just can't win them all!
I'm not sure if I should chuck some more cash at this or run for the exit. It does rather seem as if the new team is "kitchen sinking " everything they can so that in a couple of years there will be a big bounce in profits and no tax to pay. If they buy some shares then I will be tempted to follow suit.
It is so hard to call a bottom in these markets , not having sold at £13 a few days ago I would like to add a few as they look cheap at this price , the problem is will they get cheaper . I think I will wait for a convincing bottom . I'm no chartist but this looks like unknown territory to me , anybody got any ideas?