This is meaningfully better position than what brokers were forecasting. The stock should re rate hard upward after a period of oversized selling pressure.
new CEO has clearly done a great job controlling costs and cash burn, both at site and at head office.
with A$87m of cash his cash burn must be in the range of $5m per quarter or less. Brokers were estimating more like $15m for this quarter. See below for what brokers expected the June 30 cash balance to be - big beat on all the below.
Jarden - $65m
Citi - $76m
Macquarie - $78m
Canaccord - $83m
JP Morgan - $85m
Ann: Production and Financial Position Update, page-29
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Last
10.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $213.6M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 10.5¢ | 9.7¢ | $1.346M | 13.52M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 452071 | 9.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 2273869 | 37 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| CXO (ASX) Chart |