There is a risk the copper price keeps declining as more economies slide into confirmed recessions and major economies keep getting rating downgrades such as USA a few months ago and China this week.
Personally, I believe EVN should have focused more on the gold in the current economic and geopolitical environment. Copper purchases have ruined a lot of companies recently, namely one of my other producing stocks - AIS. You just have to look at their share price after the Round Oak purchase.
Honestly, it is very poorly timed as EVN's share price was finally gathering momentum after years of waiting for some action. The highest monthly close for gold ever on Friday and now this news to bring us back to square one on a share price perspective. Poor management and I wont be taking up the offer, especially when its on sale at current prices. Very disappointed!
Ann: Acquisition of 80% interest in Northparkes Copper-Gold Mine, page-25
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Last
$4.02 |
Change
0.070(1.77%) |
Mkt cap ! $7.983B | |||
| Open | High | Low | Value | Volume |
| $3.98 | $4.04 | $3.97 | $29.05M | 7.244M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 52065 | $4.02 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.03 | 46948 | 9 |
View Market Depth
| Last trade - 16.10pm 07/06/2024 (20 minute delay) ? |
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Last
$4.03 |
Change
0.070 ( 2.25 %) |
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| Open | High | Low | Volume | ||
| $3.98 | $4.04 | $3.97 | 2439565 | ||
| Last updated 15.59pm 07/06/2024 ? | |||||
| EVN (ASX) Chart |