Alliance Mineral share price getting wacked - Day low of 0.177

The last few days has been harsh on the share prices of Alliance Minerals Asset Limited (SGX: 40F / ASX: A40) - dropping to a day-low of 0.177 on SGX. I am now in the red. -_-

(Source: Alliance Minerals website, https://www.allianceminerals.com.au/)

(Folks, this is one of the reasons why diversification is needed. Having mentioned that, it was a risk I was ready to accept.)

This could be attributed to the following:

• Sentiment in Lithium Sector
• Uncertainty after revision of offtake
• Outcome for ineligible holders
• Unclear ongoing shipment from Esperance

Most investors will have at least be caught by such events in one or more of their portfolio holdings. The silver lining is that it really tempers your guts to weather through this.

In some ways I am glad I have went through this when I first started trading.

While the saying "Never fall in love with a stock" always holds true, I have faith the future of Lithium is still there (especially for Alliance Mineral) and this is a short-term thing going on due to lack of information. Think about it - where's the credibility of Morgan Stanley buying into Galaxy AFTER releasing a pessimistic outlook for the sector? Pfft.

Keep in mind Alliance is a producer now, not an explorer.

I'm keeping close eye on the quarterly report to be out tonight or tomorrow morning, and then we will see how things goes.