Far East Capital Newsletter
Lucapa needs to focus on Angola
2 Mar 2024

In This Issue

Lucapa needs to focus on Angola

Although we rarely mention it, the Information Technology Index has been powering higher in recent weeks. It has risen by almost 100% over the past 18 months. This sort of performance is bound to be sucking speculative money away from the junior resource stocks. We do not comment on individual technology stocks, but seeing broad money flows suggest that is where speculators funds have been heading.

Lucapa's share price has fallen heavily over the past week on high volume. Someone, or more than one person, obviously want to get out and they are prepared to do so by selling the price down. The market capitalisation has fallen to $30m ahead of a five into one consolidation. The share price is of concern given my previous enthusiasm for the stock that has gone unrewarded. What has gone wrong? 

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