I think the basic plays here are:
1) forget Glencore and the "Binding Agreement". Glencore is obviously waiting this out see if they can screw Galan over for a much better deal. This is what Glencore does, as everyone predicted
2) Is Acuity shorting the stock, and using the draw downs to cover their shorts (nice business if you can get it)?
3) Does Galan have the common sense to halt construction?
4) Most importantly, can our valient duo organise a financial rescue package from China, or will the Chinese also wait them out and screw them down on price?
Moral of the story? Bad stuff happens when you run your cash down to zero.
Can't decide if this is going to 2c or $2... It will be one or the other
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17.0¢ |
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Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 830611 | 16.5¢ |
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Price($) | Vol. | No. |
---|---|---|
17.0¢ | 360055 | 6 |
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No. | Vol. | Price($) |
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7 | 830611 | 0.165 |
15 | 563194 | 0.160 |
8 | 1777597 | 0.155 |
15 | 607216 | 0.150 |
2 | 360000 | 0.145 |
Price($) | Vol. | No. |
---|---|---|
0.170 | 360055 | 6 |
0.175 | 257400 | 5 |
0.180 | 161933 | 6 |
0.185 | 130000 | 2 |
0.190 | 48077 | 2 |
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