That's the point! They don't have the payment, otherwise they would have been tripping over themselves to get this information to the market. What company management team in their right mind would not release such positive news (payment of their first big contract), if it was in fact true, especially at this early stage of their business development. They have issued trading halts for much less!
I'm a holder of this company and optimistic about their prospects long term, but the fact that they have not released this information to the market as yet, is indicative that they have not yet received the payment IMHO.
However I don't believe this is the sole reason for the extent of the retrace in the SP, as the whole sector has been hammered over the last few trading sessions.
reply from MXC regarding deposit., page-153
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Last
47.0¢ |
Change
-0.015(3.09%) |
Mkt cap ! $23.22M | |||
| Open | High | Low | Value | Volume |
| 49.5¢ | 50.0¢ | 46.0¢ | $48.58K | 102.3K |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2500 | 41.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 48.0¢ | 5000 | 1 |
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| RGT (ASX) Chart |