The shorters have now had their "Big Win". The smarter ones will be closing out those positions in ORE.
Now we have a market cap of around AUD 944mm. Apx USD 316mm (AUD 440mm) of that is in cash. So net of that cash mc ~AUD 500mm. Anybody around here think that is expensive for a functioning, high margin Lithium operation with stage 2 fully funded, lowest quartile cost and long mine life?
Kudos to the Shorts for getting it right. But, know when to move on.
There will be some volatile weeks, maybe even months ahead, but as we have seen before, these crises come and go. If you are a long term investor, you wont get too many chances to buy into this industry at these levels IMO.
ORE Price at posting:
$3.62 Sentiment: Buy Disclosure: Held