Exactly the same as AJM, once production started and borrowings completed.
Straight down the bankruptcy road.
The price of their product hit the floor.
The Chinese would not honour the floor price of their agreement.
Selling below cost just to try and stay alive.
Once in liquidation, the price of their product flew, they just needed to hang on
for another two odd months and they would have been ok.
The same could be RNU's situation, over borrowing and their product price falls through the floor.
So never say never.
Others that suffered the same fate as AJM (lithium) was WLF (tungsten).
Finger on the sell button at all times.
20 cent Party, page-9
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Last
9.8¢ |
Change
-0.001(1.01%) |
Mkt cap ! $251.5M | |||
| Open | High | Low | Value | Volume |
| 9.9¢ | 9.9¢ | 9.8¢ | $30.78K | 313.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 191444 | 9.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 9.9¢ | 98974 | 5 |
View Market Depth
| Last trade - 10.06am 01/05/2024 (20 minute delay) ? |
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Last
9.8¢ |
Change
-0.001 ( 1.01 %) |
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| Open | High | Low | Volume | ||
| 9.9¢ | 9.9¢ | 9.8¢ | 23605 | ||
| Last updated 10.26am 01/05/2024 ? | |||||
| RNU (ASX) Chart |