Not yet. I think they will struggle. I am expecting the sp to be propped up until the offer closes. Thereafter I expect it to wander between 3.8c and 4.8c until we get to 24hr MgO production. On announcement of 24hr operation we sholuld see a re-rate closer to 8c and when announced ignot production I expect around the 10c mark.
Even if there is no take-up, the offer is fully underwritten though Ord will not want to be holding too many and a dump after the raise could bring sp down to the high 3's.
If it's going to go any higher than 5c it will most likely be due to +ve announcements re stage 2 and/or 3.
I am hoping by the end of the year they will process some Ni Slag to show the hydromet performance on such slag - that would stimulate investor interest in stage 3. The only other alternative is a take-over however if it hits 10c a buyer will need about $400M - $500M.
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Not yet. I think they will struggle. I am expecting the sp to be...
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Open | High | Low | Value | Volume |
3.4¢ | 3.5¢ | 3.4¢ | $8.818K | 258.8K |
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No. | Vol. | Price($) |
---|---|---|
3 | 276793 | 3.4¢ |
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Price($) | Vol. | No. |
---|---|---|
3.5¢ | 112510 | 1 |
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7 | 3082371 | 0.033 |
13 | 1699533 | 0.032 |
3 | 566300 | 0.031 |
8 | 1420423 | 0.030 |
Price($) | Vol. | No. |
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0.035 | 112510 | 1 |
0.036 | 132027 | 3 |
0.037 | 6000 | 1 |
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