NILI has PIVOTED to a BULLISH TREND, downtrend is doneI was not expecting NILI to release the MRE so quickly but I did mention that it would be a pivot point in establishing a bullish trend.
We have finally broken the downtrend cruse that was in effect from September 2023 from $ 1.53 per share.
New bullish trend has been established as of today.
The 60 day moving average is 54 cents and the most important 200 day moving average is at 62 cents.
Once we bust through these two levels, then we have solid bullish trend establishing and I would expect that institutions will begin loading up on NILI.
MRE will make all the difference in the world as big institutions and Majors finally have some numbers to calculate fair market value.
There were two things that hit me with MRE:
(a) With an incredibily high cutoff rate of 2,000 ppm lithium, we have 4 million tons of lithium. This means most of our lithium is HIGH grade and it is also at shallow depths, so costs will be almost non material.
(b) Operating cost of $ 88 per ton is a JOKE versu sale price of $ 20,000 USD per ton.
The next big step is to await the flow sheet which will determine how to extract the maximum lithium from this clay. Once again NILI calculated a very conservative 73% rate, in keeping expectations low.
I expect flow sheet to SIGNIFICANTLY INCREASE the recovery rate.
So stay tuned for another HALT and jump in stock price.
Got to love this management team. They came out of retirement to make BIG MONEY and not waste their time.
Will be very rewarding when we trade in DOUBLE DIGITS in the area like at $ 17 or $ 20 per share.
Good Luck,