All reports are that the raise went to the funds via Hartleys. I wouldn't be expecting the 2nd tranche to come out any time soon. It wasn't a retail raise. Volume has been low since the raise. It's obviously consolidating on low volume. All it takes is for one of the funds to step in and buy it and we are quickly at 25c.
Do your sums on how much $A this makes with an iron ore price above $US100. Don't forget it will trade at a discount to the 65% Fe price also, as it's 64%. (Likely $A1.50 discount).
I wouldn't be surprised if the upwards movement commences within the next week as funds will book profit for September 30.
A great buying opportunity at this level.
DYOR.
Ann: Iron Ridge Project site works commence, page-12
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Last
30.5¢ |
Change
0.005(1.67%) |
Mkt cap ! $211.8M | |||
| Open | High | Low | Value | Volume |
| 29.5¢ | 31.3¢ | 29.0¢ | $1.193M | 3.950M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10000 | 30.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 31.0¢ | 80130 | 2 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| FEX (ASX) Chart |