Low volume and illiquid stock, easy to push the share price up before announcing a trading halt / capital rasie. You could see it in the charts. These guys have to cut back on their admin / board / chair costs. Office location would be better off in Cairns as EQR (ASX) already does that.
Additionally, if they're not producing 16 to 20 tonnes per day of copper sulphate then it's just going to become another money pit.
And my concern is they'll run out of water in Chillagoe. Historical google maps show that dam onsite bone dry whenever El Nino is in town.
On top of that, inflationary costs contributing to wages, electricity, water, equipment costs, freight, etc.
I can't see this working long term. Why?
Read all their previous announcements. They've always been extremely bullish with their vision and completely missing targets.
Ann: Trading Halt, page-2
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Mkt cap ! $4.566M | |||
| Open | High | Low | Value | Volume |
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Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 27741 | 2.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.0¢ | 57447 | 2 |
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