Phantom,
There was an ASX announcement at end of 2021 that mentioned preparations for a capital raising with sophisticated investors and or institutions. It has since been clarified that is nothing more than preparation in case the opportunity arises. That's the reason for sell off. My interpretation is the opportunity would be some company wanting to buy into Galan as opposed to Galan wanting to sell shares at a discount.
Also, Galan was technically overbought and due a technical correction. personally I have just put a bid in to buy more this morning.
Ann: Galan Lithium Limited Fully Funded, page-43
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Last
12.0¢ |
Change
0.010(9.09%) |
Mkt cap ! $60.80M | |||
| Open | High | Low | Value | Volume |
| 11.0¢ | 12.5¢ | 11.0¢ | $518.0K | 4.475M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50000 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.5¢ | 1573785 | 9 |
View Market Depth
| Last trade - 16.10pm 11/09/2024 (20 minute delay) ? |
| GLN (ASX) Chart |