I personally am not too surprised by the recent drop. Albeit that said, I thought we would hold 25c. The markets are really soft atm in the ASX junior miner space particularly Li & REE. We are one of many well off recent highs.
What we need now is proactivity from management and a flow of news herewith to maintain both investor engagement & indeed our own identity.
Are we putting all our eggs in Equador drilling or are we going to look to advance our other Brazilian projects as well simultaneously?
Are we going to look to sell our Uranium?
I personally know of 2 WA private companies actively seeking fresh Uranium exposure....
If you look at RDN as a case in point they are still waiting to drill - approvals not yet through....share price tanking only because holders lose patience & decide to pursue fresh opportunites. Management's scant regard for shareholders only adds fuel to the fire...
I believe in our project/s & by no means am I pessimistic but now is the time Gower & Co need to earn their wage to avoid the same fate here....sadly the ASX is a universe where you can become yesterday's hero pretty quickly if you stand still.
Whilst its great we are aiming to drill Equador asap the reality is it will most likely be Q4 2024. A lot of macro events happening as well between now and then which create uncertainty.
I guess tomorrow and over coming days we will see if GBA are the real deal or just taken their fee & profits from previous & run away. I mean they (& clients) got these 10M shares cheap. Not even at VWAP. Can imagine most of their clients wouldn't be happy to be underwater already however.
I remain bullish on Equador (& SUM as a whole) and its potential but I think the next few days of trade are critical for the Company to 're-calibrate' and provide confidence. If GBA turn a blind eye it could get worse before it gets better sadly.
That applies to much of the junior ASX space not just us.
I will continue to hold my position until we drill Equador but have decided to realise other external assets to allow me to pursue new short term opportunites on the ASX.
As it stands our current MC for what we hold & potentially have is in my opinion ridiculous - so to others like myself holding lets hope our patience is rewarded well & truly in the coming months.
GLTAH
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Last
24.5¢ |
Change
0.025(11.4%) |
Mkt cap ! $17.61M |
Open | High | Low | Value | Volume |
22.5¢ | 27.0¢ | 22.5¢ | $419.9K | 1.672M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 41457 | 24.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
26.0¢ | 92258 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 21457 | 0.245 |
2 | 75000 | 0.240 |
3 | 28131 | 0.235 |
3 | 124100 | 0.230 |
1 | 2223 | 0.225 |
Price($) | Vol. | No. |
---|---|---|
0.260 | 92258 | 2 |
0.265 | 72255 | 5 |
0.275 | 18639 | 2 |
0.280 | 4000 | 1 |
0.285 | 53000 | 2 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
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