They've still got 7.6M of shares to go, and they've indicated they are leaving... Which are the current daily share trade volume is about 150days of selling to go. They need a good news announcement to sell into to get rid of the rest, which I think is highly unlikely with the board unrest...
Richards bay export pricing is currently above Newc, spot at US$460/t - so the march quarterly will look good. That said the presale arrangement they entered into will be holding back margins because it was negotiated a shitty terms, in the March quarter there is still 8,250t at a price of US$115/t (vs current >US$400/t) - this should only be a fifth of production though, so shouldn't hold them back too much.
Terrible jurisdiction, someone poor management, tough operating conditions... It certainty isn't a good company, but at these prices you don't need to be!
They've still got 7.6M of shares to go, and they've indicated...
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Last
11.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $70.80M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 22000 | 10.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.0¢ | 23269 | 1 |
View Market Depth
| Last trade - 16.21pm 28/07/2025 (20 minute delay) ? |
| MCM (ASX) Chart |
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