I sold most of mine to crystallise the loss (six figures mind you!!) but will be buying all those back and more - just in case she goes OK in coming years.
I personally feel that $90 - $100million market cap is too high for AJM at this stage of their development.
I hold much better companies with better prospects with market caps around the $40-$50 million market cap. I find when I apply a common sense valuation to companies based on little more than gut feel, it's usually not far from the mark.
This is where I expect AJM will drift down to over the coming days and weeks.
I expect some large holders to try and keep it in a tight trading range between say 1.5 - 2 cents for as long as they can so they can exit slowly. Once they have finished, the floor will drop out of it fairly quickly. I could be wrong but this is my guess based on previous experience.
$40 - $50M puts it at around 0.008 - 1 cent mark. I will aim to grab my shares back plus a few extras at these levels in due course.
If it never gets back to those levels, I don't care that much as I have some ripper lithium juniors in my portfolio and see AJM as a capital loss and a bit of a longshot!!
It is nice to see it trading again though and frankly, the 1.5 cents or so I got was a bit of a bonus!!
I hope they rise like a Phoenix in the long term.
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Last
3.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $8.935M |
Open | High | Low | Value | Volume |
3.3¢ | 3.3¢ | 3.3¢ | $47 | 1.429K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 186526 | 3.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.4¢ | 123310 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 186526 | 0.033 |
3 | 95091 | 0.032 |
5 | 166806 | 0.031 |
4 | 70666 | 0.030 |
1 | 19200 | 0.029 |
Price($) | Vol. | No. |
---|---|---|
0.034 | 123310 | 2 |
0.035 | 40571 | 1 |
0.036 | 335239 | 4 |
0.037 | 70464 | 2 |
0.038 | 75000 | 1 |
Last trade - 10.35am 03/09/2024 (20 minute delay) ? |
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1MC (ASX) Chart |