My 2c Hopefully some listen when I was advising to sell.. here is why:
- China controls 90% of LITH market and converts. They will continue to kill it to ensure dominance in the short term. Think about OPEC and the 2016 price war that collapsed the market and when the rebound happened afterwards.
- Political push is needed to ensure that NA LITH suplly chain is created which for now exists. Economically, NA cannot compete with China on this as costs are much higher.
- The above address the macroeconomic situation which will not get better for at least 6M maybe 9M
- CRE will not have any substantial news anytime soon - Drilling update maybe in March/April if they have drills working but we don't know. No news if they have deployed any, how much was drilled etc
- Financing - can't speculate anymore since I think whoever they talked got cold feet. Given the depressing LITH market, probably discussions hava stalled for now so no news anytime soon
- Stock will be going lower since there is nothing in the short term to prop it. CRE is not willing to put out news about construction progress, detailed engineering, site preparation activity, long lead items etc
- support is at 73c from Dec 2020. Don't think that will hold hence my sell recommendation last week. Once that is out, nothing to stop this on the way down.
- Sold half my shares and hope for some bump in the volume and get rid of all, since still have 100k.
-might buy back but only after financial news and we see the price they negotiated. Bet $5 that they will have to revise the FS as the $2,100 is out and if they secure anything close to $1,500 will be considered a win.
Personally, I'm monitoring RCK and SLI and probably will move there but depending on few factors. For now best is to be on the sidelines for few weeks.
Bash me as much as you want, but I was able to squeeze a small profit here and you could have too instead of listing the BS Patrick was telling you. Just looking at your account iwill be enough to remind you. Yes I'm not happy with my investment either, since my return is not what I hoped after holding this dog for 8 years! But you have to know when you should consider moving to other opportunities and the LITH market is currently providing some.
Good luck to all longs!!