YES, a lower gold price is very good for CHN holders as it means management will think twice about making a poorly timed acquisition which they are looking to do
Just look at what TRY did for their shareholders !!!
I'm betting management is going to call quits and the company retunes all the cash to shareholders
@$1200 an ounce, high Aus dollar, only $50 million in cash,
the dreams of being a small gold produced are finished !
CHN is stuck with just being a small junior gold explorer, buying cheap tenants are offloading to bigger gold producers if they're lucky.
gold price , page-2
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Last
$1.46 |
Change
0.185(14.6%) |
Mkt cap ! $566.0M | |||
| Open | High | Low | Value | Volume |
| $1.31 | $1.52 | $1.29 | $13.31M | 9.317M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 126359 | $1.45 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.46 | 26813 | 2 |
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| Last trade - 16.10pm 18/09/2024 (20 minute delay) ? |
| CHN (ASX) Chart |