A CR in mid September explains the market action. The fact that the share price isn't being allowed to rise above 29c suggests a CR at 26/27c to raise money for Merelani refurb.
Those who want to believe that random actors in the market are determined to exit at a lower price than they otherwise could are not making sense IMO. A broker is under instructions to keep the trading within a certain range until the GM on 9 Sept.
As I said earlier, the August rally is now the September, October rally. Just like in June, the longer it's suppressed, the higher it will rally to find its market price. Just as 16c wasn't fair value in July, 28c isn't now.
you can spend the next three weeks being frustrated with the price remaining below 30c or you can relax and prepare for after the GM.
All IMO.
A CR in mid September explains the market action. The fact that...
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Last
10.5¢ |
Change
0.005(5.00%) |
Mkt cap ! $47.67M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 10.5¢ | 10.5¢ | $21K | 200K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 340000 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 147526 | 3 |
View Market Depth
| Last trade - 10.02am 31/07/2024 (20 minute delay) ? |
| EGR (ASX) Chart |