When markets come under pressure, it's the companies that are making money which get supported. Sovereign risk of course plays its' part but without revenue, the speculative hot air simply bleeds out in the absence cold hard concrete facts. When there's nothing to pin a particular value on, cash backing acts as a magnet unfortunately. The capital management here looks very good but it ran from 1 cent to well over 20 cents on pure speculation. It currently has a market cap of A$ 84 million but only realistically backed by around A$8 million in cash and that gets spent over a period of time just keeping the lights on.
The rusted on believers will call this down ramping but for those simply wanting a real answer as to why it's now trending down, the above is the cold hard facts of this game. Emotional attachment and averaging down on speculative plays often ruins lives.
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Last
6.3¢ |
Change
0.001(1.61%) |
Mkt cap ! $89.32M |
Open | High | Low | Value | Volume |
6.2¢ | 6.4¢ | 6.0¢ | $308.9K | 5.008M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 160000 | 6.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
6.3¢ | 147648 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 160000 | 0.062 |
4 | 741332 | 0.060 |
3 | 900000 | 0.059 |
4 | 399842 | 0.058 |
2 | 25500 | 0.057 |
Price($) | Vol. | No. |
---|---|---|
0.063 | 147648 | 2 |
0.064 | 839531 | 4 |
0.065 | 693000 | 5 |
0.066 | 965000 | 3 |
0.067 | 956665 | 4 |
Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
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