Excellent summation Mudguts and wholeheartedly agree.
Your thoughts are logical and the most likely scenario considering current industry conditions. If in fact that is what they are doing, and I believe now they are, then it is a well thought out strategic move.
Have to openly admit I never saw this coming 2 years ago and is testing our patience to the max. However it will place PEN in an outstanding position when the market turns.
Capitulation, page-15
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Last
9.3¢ |
Change
0.001(1.09%) |
Mkt cap ! $296.3M | |||
| Open | High | Low | Value | Volume |
| 9.4¢ | 9.7¢ | 9.2¢ | $1.217M | 12.99M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 526886 | 9.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 9.3¢ | 118538 | 1 |
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| Last trade - 16.10pm 31/10/2024 (20 minute delay) ? |
| PEN (ASX) Chart |