Why is this stock going down?
I'll tell you.
Punters were expecting a substantial upgrade to inferred resource recently but the resource unbelievably was the same.
Why did we expect this?
Because management inferred it, in announcements and in public presentations.
Why didnt it happen?
Because the coy. didnt realise at the time that the high grade mineralisation in granite was already counted in the existing inferred resource.
The coy. wasnt able, previously, to delineate between the sediment and the granite based mineralisation.
Having said that, I'm still of the opinion that there is a bright future for this coy., there will be further high grade mineralisation found (I believe)and International buyers are keenly watching USA.
demand, page-50
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Last
12.0¢ |
Change
-0.010(7.69%) |
Mkt cap ! $19.71M | |||
| Open | High | Low | Value | Volume |
| 12.5¢ | 12.5¢ | 12.0¢ | $10.84K | 88.78K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 70000 | 12.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.0¢ | 70558 | 1 |
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| Last trade - 14.31pm 17/07/2024 (20 minute delay) ? |
| EMC (ASX) Chart |