The recent absence of sensitive announcements was most likely due to ECE divesting their 120M shares at around 10M per week.
Hoping now they are off the books as of this week so hopefully we will be seeing another few announcements in the near future.
The sell pressure has subsided. Time now for the rebuild of the SP in accordance to what ARU is actually worth - in my opinion 50c should be the floor as it currently sits with plenty of upside once the remaining offtakes and FID are released.
It has been difficult watching this SP decline though fully explained by the massive on market selling of the 6% stake owned by the Chinese ECE investment company.
Let's see how it responds to this news today without a constantly reloading sell side. Best of luck to all, time to return to a reasonable valuation again.
Cheers
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Last
17.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $404.3M | |||
| Open | High | Low | Value | Volume |
| 17.5¢ | 18.0¢ | 17.3¢ | $624.4K | 3.553M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 209908 | 17.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 18.0¢ | 809563 | 23 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| ARU (ASX) Chart |