SALT closed at $1.47 on $2.1 M shares....Just like we have al been talking about over the last couple of weeks, $1.30 was the support level for SALT after crosing this price on an upward trend back in November 2021. Since then it has traded about 63 M shares. There was a lot of profit taking, but more importantly, a lot of new people and funds positioning. Take Clarus for example yesterday, they took down a cross of over $1M shares, and the month before another 1 M shares, and more shares prior to November 2021, without selling anything, sure feels bullish to me. Was the slide in stock price related to this Clarus pickup, I don't know but I sure hope so.
At the end of September 2021, they had over $8 M cash and only 75 M shares. My guess the float has changed hands in a very positive way. This is also extremely bullish to me. Basically trading over 63M shares above $1.30, almost the entire share structure, take out the major stock holders, I think it is safe to conclude we have formed a new and exciting bottom. They have renewed their Investor Relations contract with PRmediaNow. I suspect they will be filing Financials soon and engaging other groups like Ron Struthers in Street Wise Reports to provide an update as the drills are turning and they have reached the top of the salt dome much closer to the port (500 M stepout).
But one thing for certain, timing is working in our favour. They stated back in July 2021 that the Great Atlantic Economic Feasiblity Assessment (Study) is ....".....expected to be completed during the first half of 2022, will include the design of a mining method, processing parameters, related infrastructure, environmental screening and an economic evaluation. has taken into consideration just about everything every major in the industry needs to know about...."....
This could come at almost anytime in the next 3 months, likely timed with new promotions and updated corporate presentation. This assessment will outline the details of just about everything one needs to know. There aren't many companies that reach this stage of development in such a short time period. If this assessment is as positive as all the resource data suggests, I have no doubt majors are waiting to see this report.
And not to mention all the other things going on with SALT.
I remain bullish, I think most remain bullish.... I suspect there was a little short squeeze that went on yesterday after the Clarus cross, let's hope the buying trend continues.