Puzzling?With lithium prices down there is no buying in the sector, and a soft FL price is not really a surprise.
What does puzzle me is why there has been no insider buying by management.
They cannot fight the tide and hold the price up, but nobody in the Walker family, nor the company executives have seen good value here.
There has been no "vote of confidence" buying, and the family has not retained its pro rata interest as the financings have happened. They have been diluted down, and not done anything about it.
So far they have been right, and the Mits. deal has turned out to be insignificant.
It looks to be a great deal, but not good enough for management to see value here.
To be clear, I do not expect them to support the price. But they obviously see better places to invest their rrsp contributions, and other investment capital. As a shareholder this lack of confidence tells me that they are not as confidant and still see significant risk here. It also tells me that i would strongly vote against repricing any management stock options. Continually lowering the exercise price of existing options is not in common shareholders best interest. Management does not seem interested in the share price at all, and aligning that interest rather than repricing options will get my vote.
Best of luck