I wanted to back up the recent post by @GeForce with regards to float size.
One can do their own calculations but, I stand by my reseach note#5 from a few months ago (above).
Incredible things can happen when everyone wants to BUY a stock with a small FLOAT.
In simple terms...it's like this...Insiders/mgmt/sticky holders aren't selling.
SOOOoooo...
The MC of GLN isn't 53M...if you agree that the float is around 25% (give or take 5%) you actually have a trade-able... 14M MC stock.
In the simple stock market world of BUY and SELL...that means ONLY 14M dollar of investment money can flow into GLN.
Look at the DAILY dollar amount VOLUMES of other Lithuim stocks. GXY/ORE/PLS and 50+ others.
Some do $5-10M in a day!...this in a poor lithium sentiment market the past 15 months.
What happens when Lithium gets HOT again?
There's a LARGE amount of money that could enter GLN at ANYTIME (2nd drill hole or 3rd? , new land etc.)
Lastly, I could be very wrong about the 25% float...
Look at the volume the past few months...ONLY 1 day did we crack 1M shares traded.
The actually REAL FLOAT may ONLY be 5-10%.
If true...the LAW of supply and demand is VERY much in GLN favour going forward with every news update.
Please give the above some thought.
Stocks go up for 1 reasons only... MORE BUYERS than SELLERS.
It's just that simple.
The tiny FLOAT of DMI/GLN was one of the things that got me into this stock and one of the reasons it's not only been successful...but, will KEEP bagging until JORC and/or transaction.
IMO
DYOR!!
GLN Price at posting:
54.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
