When I bought into CHN I knew it would be highly speculative and that due to a long lead time to a potential development , it would be shorted mercilessly. Short positions are still rising and are now over 5% of CHNs capital. (Remember, some dickheads are lending the shorters shares . ) I bought in for the long term and being an old bloke , I recognise the risks.
Who can remember Poseidon Nickel ? Huge announcement , high grades and a development plan. Their shares went from 20cents to over $100 and some brokers saying they were worth over $300 . Anyway, they did develop a mine but grades were less than forecast and extraction costs were much more . They went into receivership. I think they emerged as a much smaller entity but not sure after that.
Anyway , what I am saying is ,…..dont get caught up in the hype and do recognise the risk .
Is now the time to buy in ? Personally, I will only buy more when there is some serious value created and all the approvals are in, and there is a believable development plan.
Ann: Gonneville Nickel-Copper-PGE Project Scoping Study, page-946
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Last
$1.13 |
Change
0.055(5.14%) |
Mkt cap ! $437.6M | |||
| Open | High | Low | Value | Volume |
| $1.04 | $1.13 | $1.04 | $3.198M | 2.933M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 35600 | $1.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.13 | 18808 | 2 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| CHN (ASX) Chart |