the price action here is kind of blowing my mind.
Commsec dominating the selling of ARL and buying of CLQ lends some support to the idea we are seeing a complete misunderstanding that ARL is in fact ~ 6-7x undervalued to CLQ (if we assume they are primarily valued on their N/Co deposits, and those deposits are give or take equals).
I know this sounds ridiculous but I see this on HC threads all the time - punters like buying stocks that are cheap in raw $ terms, ignoring market cap. This also helps explains the herd action at AUZ from retail IMO.
The other factor seems to be concern over financing, noting COB has had a nice green bounce after telling the market finance won't be a problem. I note CLQ did this in an AFR article, but I don't think they did a release to market on this.
If all this is true, we either need CLQ to start climbing again, or some specific announcements from ARL around financing, offtake and/or such compelling economics from scoping on 2.25Mt option, that the institutions twig and buy hard... all IMO. GLTAH. Trying times...
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Last
45.0¢ |
Change
-0.005(1.10%) |
Mkt cap ! $89.85M |
Open | High | Low | Value | Volume |
45.5¢ | 45.5¢ | 45.0¢ | $7.063K | 15.57K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 32473 | 45.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
49.0¢ | 4680 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 32473 | 0.450 |
2 | 47675 | 0.440 |
1 | 20000 | 0.435 |
3 | 12200 | 0.420 |
1 | 25000 | 0.405 |
Price($) | Vol. | No. |
---|---|---|
0.490 | 4680 | 1 |
0.500 | 11258 | 1 |
0.510 | 2192 | 1 |
0.520 | 11583 | 3 |
0.530 | 50950 | 1 |
Last trade - 15.28pm 30/07/2024 (20 minute delay) ? |
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