Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi MM, I have been a fortunate investor of ASX:ASN which has seen a significant increase in the share price on the back of several positive announcements. I'm interested to get your thoughts on this stock from a technical and fundamental perspective. Kind regards, Mitch
Hi Mitch,
Anson Resources (ASN) is a $407mn WA based precious metals & lithium company which has indeed enjoyed a great few weeks rallying ~200% in just 3-weeks.
Fundamentally – ASN has released details of its lithium project in the US which “confirms outstanding economics and ESG credentials for Phase 1 development”. The Phase 1 is forecast to deliver revenues in excess of $US5bn over more than 20-years. Everything reads well here in todays hot market for ESG facing businesses.
Technically – while the stock holds above 30c it looks great but I am conscious that over half of such “pops” in the smaller stocks do often fail.
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