I am inclined to agree with you there. However the volume being traded each day is bugger all. Its piddly holdings cutting their losses by looks of it.
TBH it does not help and the following are out of managements control:
1. Ukraine/Russia crisis
2. Crashing Oil price
On the 2nd point, the company's project (or farm out) is at least 5 years off development/production (one would think) so hard to link the current oil price to the potential reserves. However that being said the market does have a tendency to take a dim view on junior exploration projects with this type of baggage.
It is a shame because I had such high hopes on this one.
Ann: Notice of Annual General Meeting, page-18
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Last
20.0¢ |
Change
-0.005(2.44%) |
Mkt cap ! $39.52M | |||
| Open | High | Low | Value | Volume |
| 19.5¢ | 20.0¢ | 19.5¢ | $51.21K | 260.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 152500 | 19.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.0¢ | 79999 | 2 |
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| Last trade - 16.10pm 27/06/2024 (20 minute delay) ? |
| GAL (ASX) Chart |