i think its because of amount of tradeable shares on open.
pre-ipo shared of 8.8 million units free to sell on day 1 which was raised at 10c. Should struggle on open. I was planning to invest but after seeing high EV and free float of 8.8m units at 10c
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Chalkos Metals Copper projects next door to The Glencore Mount Isa operation, page-21
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