There are two popular stocks on the ASX that Squire believes could face challenges from here: Latin Resources (ASX: LRS) and De Grey Mining (ASX: DEG). These companies have seen their share prices rise 170% and 29% respectively over the past 12 months. "If you go back to the criteria that I mentioned before - you have a look at Azure, Patriot, and Liontown - they've all got really thick deposits that are high grade," Squire says. "Yes, Latin Resources is a reasonably large resource, but it has multiple skinny loads. It will be very difficult to mine and there is a high risk of impurities coming into the concentrate they process." Squire believes the market is starting to wake up to these technical challenges, with the stock's share price falling 35% since hitting a high in August. "It's starting to fall apart and that's being reflected in the numbers as people start to think about the next stage of production. I think it's got the potential to fall further as we start to see those challenges surface," he says.
Let me start by saying that I am NOT a downramper; I have held LRS for quite a while and enthusiastic about their prospect.
However, reading the above article on Livewire 17/10 I wonder what others feel? Not being an expert, I don't feel fully equipped to comment, but would greatly appreciate feedback.
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17.5¢ |
Change
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Mkt cap ! $489.8M |
Open | High | Low | Value | Volume |
17.5¢ | 17.5¢ | 16.5¢ | $1.743M | 10.17M |
Buyers (Bids)
No. | Vol. | Price($) |
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6 | 725972 | 17.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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17.5¢ | 212595 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 696561 | 0.170 |
30 | 1666847 | 0.165 |
26 | 2104129 | 0.160 |
8 | 830441 | 0.155 |
24 | 924195 | 0.150 |
Price($) | Vol. | No. |
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0.175 | 142631 | 4 |
0.180 | 1414523 | 14 |
0.185 | 810891 | 11 |
0.190 | 149779 | 8 |
0.195 | 251626 | 7 |
Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
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