What's happening with CNL's share price is no different to any other junior: A mix of tax-loss selling and a dismal economy, particularly falling house prices, which have combined to send punters into hibernation.
However all is not lost.
US corn prices have rocketed higher, so i guess rising phosphate prices can't be too far behind.
Moreover, CNL has a potential mega phosphate deposit which is close to its markets unlike its Australian counterparts.
On top of that i would not be surprised if some big chemical company puts its hand up for all the phosphate CNL can ever mine.
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Open | High | Low | Value | Volume |
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1 | 55384 | 0.034 |
1 | 20000 | 0.027 |
1 | 180000 | 0.026 |
1 | 500000 | 0.020 |
Price($) | Vol. | No. |
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0.047 | 28732 | 1 |
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