Seems the combination of the SP pump associated with the $2M CR placement (premium price) + encouraging rock samples + SP conversion of performance shares all combined to an unsustainable rate of SP increase. SP stalled, turned into a waterfall & will likely reduce its rate of descent progressively accompanied with a bit of bumpy turbulence here-n-there over the coming months & possibly level-out somewhere close to the numbers you've mentioned in your post.
I think your future buy price range seems pretty reasonable. You may even find opportunity to buy in the high teens at some stage during the next 6 months.
Only time will tell.
SUM Chart, page-730
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Last
21.5¢ |
Change
-0.015(6.52%) |
Mkt cap ! $17.64M | |||
| Open | High | Low | Value | Volume |
| 23.0¢ | 23.0¢ | 20.5¢ | $202.5K | 937.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 20000 | 21.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.0¢ | 5357 | 1 |
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| Last trade - 16.10pm 27/08/2024 (20 minute delay) ? |
| SUM (ASX) Chart |