You may get some panic selling that will fill those orders at 10c but the smart money will take a forward looking view. A 10c share price would bring the market cap down to $115m vs a cash balance of about $150m (assuming $20m reduction from the last quarterly balance of $170m). The price can't stay long at that level if the market believes they will start making significant profits going forward.
The key question for me is whether the remediation work will have a negative impact on their ongoing production costs?
Dwarves and Middle Earth, page-19
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Last
30.0¢ |
Change
-0.015(4.76%) |
Mkt cap ! $347.2M | |||
| Open | High | Low | Value | Volume |
| 31.0¢ | 31.0¢ | 30.0¢ | $880.4K | 2.918M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 15 | 30.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 30.5¢ | 9000 | 1 |
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| Last trade - 16.10pm 05/08/2024 (20 minute delay) ? |
| GRR (ASX) Chart |