George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
25 minutes open and 3/4 of a million sells on the day before we're supposed to have infrastructure news! Spivs and day traders, don't you just love them? Anyway, no doubt they'll come piling back in later on and send the price back up again before tomorrow.....
Well I guess we just have to get used to this irrational share price. For those with serious amounts of investment here and I am aware of at least five with , let's say , "more than" 5 mil shares, the fact is the price is entirely driven by sells/buys and while we are swamped with daytraders trying to make a hundred quid. It wont change until there is news of drilling success or maybe even licences such that it is de-risked enough for sizeable new Institutional investment to take control of the SP.
State 36-3 permit had to be reorganized to reflect additional drilling across new strip so may not get approval for a couple of weeks at least. Maybe 36-2 already has federal but not much point releasing news until both have State and Federal mainly because they cant secure rig contracts until then. So news will come in one lump imo.
Not yet tho...take note daytraders.
Yesterday's volume was heavily scewed by leveraged positions closing or being rolled over. For instance 8 trades of 227882, 5 of 233194, 3 of 238759 and 2 of 358091. The market will happily work a tight range and take a little more skin off backsides on a daily basis.
Answer? Buy shares you can hold. Traders will get it right one day but will it cover all the days they didn't?
The odds are heavily, positively weighted for ZPHR but patience is a prerequisite.
Well blow me! Just look at all those over leveraged positions closing today at a loss they never never learn.
Mr Market's best friends. Still having taken that loss. I'm sure they'll pile back in and have yet another go.....
Maybe not what some wanted to hear but certainly what I wanted to hear and the additional acreage is a real bonus. It's obvious that the crypto has binned in light of connection to the grid likely being brought forward. The company don't come up with a bold change of strategy just for fun. The next thing I'm hoping for is permits within the next week or so! Maybe today's news was bad for day traders but not for those for the longer-term view.
I fully understand the logistics of the situation and from a business perspective too. I wouldn't mind if they can sell the gas to somebody else's crypto setup but not paddling their own canoe. Anyway, time will tell soon enough.