Lithium Exploration Group Inc (OTC:LEXG) is an exploration and development company which seeks to acquire and develop lithium brines and other precious metals with probability for near-term production.
The company had a huge run earlier this year, mostly connected to promotions. Then, investors saw that it was way too early to assume LEXG will become a big player soon and the price declined to more reasonable levels.[BANNER]
Nevertheless, LEXG has been slowly losing value, which was to be expected with the company still in the exploration stage. In a press release from yesterday, Alex Walsh, CEO of LEXG, said they were hard at work putting together the go-to-market strategy for he next steps.
So far, LEXG is not generating any revenues and is still losing money. The company has secured some financing, however, and even though it has warrants and debentures outstanding at conversion prices lower than the current market price, traders seem reluctant to give up the current levels.
Although LEXG has a plan, the obstinacy of traders seem to be fueled mostly by emotions, rather than objective reasons. If the management’s effort produce some effect soon, there may be a reason for the price to go up, but for now there’s not too much to do but wait and keep an eye on LEXG.
