No doubt it will be approved. The fallout from a rejection would be catastrophic: jeopardising future Chinese investments in developing Australian resources, undermining current joint ventures, and leave a climate of uncertainty that would push China to seek out more Sino friendly nations.
So why is the share price not receiving the support? IMO, poor market sentiment and supression of the SP for accumulation are the reasons. Over the past few days, heavy buying volume has come in at the close suggesting accumulation is in progress.
project, page-3
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Last
0.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $12.73M | |||
| Open | High | Low | Value | Volume |
| 0.1¢ | 0.2¢ | 0.1¢ | $80.35K | 80.33M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 31658116 | 0.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.2¢ | 115578703 | 44 |
| Last trade - 15.55pm 01/11/2024 (20 minute delay) ? |
| CLE (ASX) Chart |
Day chart unavailable