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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19.5¢ |
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Mkt cap ! $546.2M |
Open | High | Low | Value | Volume |
20.5¢ | 20.5¢ | 19.0¢ | $5.066M | 25.73M |
Buyers (Bids)
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16 | 1047191 | 19.0¢ |
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Price($) | Vol. | No. |
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19.5¢ | 198231 | 1 |
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No. | Vol. | Price($) |
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15 | 1009023 | 0.190 |
12 | 2054151 | 0.185 |
12 | 2068683 | 0.180 |
4 | 1738315 | 0.175 |
10 | 2134343 | 0.170 |
Price($) | Vol. | No. |
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0.195 | 198231 | 1 |
0.200 | 272338 | 4 |
0.205 | 2428396 | 5 |
0.210 | 1711721 | 7 |
0.215 | 572896 | 6 |
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