Brutal, Brutal, No Support Levels, Any Director Change?Lostchannel, the Frontier Lithium meltdown continues to shake investors, a rare market event considering the stable approach of the Company. Bad for recent investors who bought near $4.00, but welcomed by investors now buying-in a larger position, especially for any global Lithium group that has been eyeing the vast high grade Lithium reserves under discovery by Frontier's drills and can now proceed to acquire at far less acquisition cost.
With multiple high grade Lithium deposits of significant value (minimum 2 proven deposits/mines and probably 4), anything could be possible in the shuffle of attempting to maintain management control of this Lithium development region spanning across 20 miles with mineable Lithium reserves for the next 50 plus years. It could even be an imminent change to the current slate of Director's as typically, with Frontier, share price weakness for numerous sessions (current pattern) often precedes a change to the Company Director's. Or perhaps, some other change of management control is in the works or there is an unexpected illness with key management/investor ownership.
Lostchannel, for instance, on this particular meltdown day for Frontier, FL's share price dropped by over 12%. Clearly, FL lost some big investor interest for whatever reason.
On the other hand, other companies percentage decline were the following:
CRE has remained very stable over the past few weeks in the $1.30 to $1.40 price range. Down 1% in Wednesday's session. Lithium America's down almost 2%, Piedmont Lithium down 1+ percent, GLO down about 2.5% & high grade Lithium company PMET down about 4%.
At 12% decline in market capitalization in single session, clearly FL is on high alert among investors.
As Lostchannel commented,
Frankly i am surprised at the magnatude of the current sell off, even with good drilling results. Any idea why? i havent compared it to other lithium stocks. Comparable?