Let's imagine the worst case scenario:
- 2 more significant holes at Grants
- Another Lithium discovery at another prospect
- Around 1.5 times the placement shares traded (approx 100m shares) since placement at over 20% of the placement price (no more CR cloud with $6m and $2.5m virtually certain)
- delayed assays (management say we will see them in the next 2 days)
- Grades are less than current reported grades
Now let's think of the positives:
- more pegmatite discoveries will mean more scale
- drilling continuing at other prospects until late Nov 2016
- diamond drilling program imminent
- new prospect drilling programs imminent
- higher graded assays possible as well as more depth and width and strike length
- institutional buying (clearly happening around 11 cents)
- low market capitalisation (30 cents would be an EV of less than $100m). KDR is valued at almost 6 times the current CXO value may have more lithium based on potential released
- assays due this week
- many more assays until late Dec 2016
- plenty more drilling and potential for discoveries
I could keep going but it seems like a no brainer to average up. I would be very surprised if 15 cents isn't hit by the end of this week. 30 cents is highly possible.
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Last
11.5¢ |
Change
-0.005(4.17%) |
Mkt cap ! $256.4M |
Open | High | Low | Value | Volume |
12.0¢ | 12.0¢ | 11.5¢ | $447.1K | 3.824M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
57 | 3655441 | 11.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
11.5¢ | 1101123 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
57 | 3655441 | 0.110 |
40 | 3393700 | 0.105 |
85 | 4823558 | 0.100 |
8 | 482688 | 0.099 |
7 | 772733 | 0.098 |
Price($) | Vol. | No. |
---|---|---|
0.115 | 925601 | 7 |
0.120 | 811276 | 13 |
0.125 | 1885214 | 29 |
0.130 | 1455914 | 34 |
0.135 | 1530717 | 21 |
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