May a slow month for financings
May was another quiet month for capital raisings in the Battery Material sector, as resources equities succumbed to profit-taking. The market flip-flopped a number of times between growth and value styles, unnerving investors. While a number of smaller raisings did get away, there was nothing on any sort of scale. Given the oft-repeated “sell in May and go away” which is applied to Mining equities, one wonders whether capital market activity is likely to persist over the northern hemisphere summer, or whether large-scale equity fundraising will slow in July/August (it rose in June). Of course, it’s noticeable that “sell in...