Galaxy’s SP is not reacting despite the recent great news (new contract for Mt. Catlin mine in Australia and the new resource estimate for the James Bay mine in Canada). I consider this to be my lithium stock with most solid fundamentals (advanced operation, making lots of money, little to no debt, great resources in 3 continents, mine, both current mining and future brine, etc, etc., etc.). So why is this stock stuck? In my opinion and that of many others in other forums, it has to do mostly with manipulation by institutions to lower the stock so they can buy lower. I think this is the main reason, but there may be others (shorting, weak hands panicking, etc.). To Make things worse, most lithium stocks in Australia are down today and Galaxy (GXY) is no exception.
It is disappointing, but I am a firm believer that things will turn around soon. We just need to be patience and let the instos accumulate. This happened a few months ago but the stock then rocketed up. It will be no different this time. I just know that I will keep accumulating.
Good luck to all
