Well this price was a shock to wake to in Perth!
This morning's sell off is insane! What was everyone expecting - to hit 200m @10kg/T and become an overnight millionaire on a $2k punt?
Please, everyone remember that this area has NEVER been drilled by a professional outfit. MEI took a chance, based on some old school miners finding decent gold a few years ago. Unlike the garimpeiros however, MEI need to go through a business process of definining the resource and cost-benefit analysis, to keep us, the ASX, regulators, etc. happy.
MEI have found gold - success! ... but look at the drill map on the announcement, how many holes were drilled within the known geological anomaly?... It looks to me like they are trying to define the boundaries of the profitable deposit zone - like a professional outfit should! Good on them!
They have raised plenty cash lately to keep them drilling & testing, they have a good idea of where the gold isn't now. Now that their front liners have this knowledge I'm looking forward to drilling round 2 showing more consistent hits .
Well this price was a shock to wake to in Perth!This morning's...
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Last
10.5¢ |
Change
0.005(5.00%) |
Mkt cap ! $208.9M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 10.5¢ | 10.0¢ | $402.7K | 3.866M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 71 | 4432527 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 1318811 | 7 |
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| Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
| MEI (ASX) Chart |