NMT
While I was aware that NMT has gone way past my profit level due to its involvement with lithium, I wasn't conscious of the fact that this week, its lithium resource has jumped over 160% and it has one of the largest deposits in the world now.
I have no idea how this translate into production but it is enough for me to want to top up my holding... especially since the share price jerked upwards when that increase was announced but it has tapered off again over the next few days.
Nice if I can get it at 44c but I may have to offer higher...
posted by Club Mulgoa @ 6:55 AM
2 Comments:
Yes, bought another big parcel at 44c. I might regret putting it at 44c now!
A rise in resource of 160% is more than double what it was!
It is always puzzling how the stock market reacts to good news. Forget about the logic for short term investors. But sometimes, logic still does not apply to the longer term.
When the resource rose by 160%, I topped up but it has only fallen further from that price. In the latest The Australian article on the mining festival in Kalgoorlie, there was one line referring to NMT and it is a good line. If you are a lithium miner, just exploring is not good enough. You have to be a PRODUCER, i.e., you have to be selling to take advantage of current higher lithium price because the market will become saturated with it.
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