Assuming at least the average-case scenario for PMET fundamentals eventuating (including 100-200Mt tonnage, they get into production within a reasonable timeframe and that the lithium market remains robust), you are right in that the price will take care of itself. However, the point I am making is that currently the ASX has let an unfair and disorderly market develop in PMT.asx. The amount of Patriot shares that could be traded on the ASX from yesterday was limited to only 700,000 (out of a total of nearly 93m). How can you have a normal market when you can only trade 700,000 shares (i.e., 7m CDIs) lol? Thats not even 1% of the PMET.tsx free float! The truer reflection of Patriot's current worth is the PMET.tsx share price. As long as it takes to convert shares to CDI's, then from that time you'll probably see increased supply which should work at bringing PMT.asx back to PMET.tsx levels. This arbitrage work is the bread and butter of bottom feeders and corporate parasites like prop trading firms.
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Last
44.5¢ |
Change
-0.020(4.30%) |
Mkt cap ! $264.9M |
Open | High | Low | Value | Volume |
45.5¢ | 45.5¢ | 44.5¢ | $678.8K | 1.508M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
14 | 283330 | 44.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
45.0¢ | 6560 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
12 | 278850 | 0.445 |
7 | 47068 | 0.440 |
2 | 123000 | 0.435 |
1 | 58139 | 0.430 |
4 | 194718 | 0.425 |
Price($) | Vol. | No. |
---|---|---|
0.450 | 6560 | 1 |
0.455 | 14800 | 2 |
0.460 | 100000 | 2 |
0.465 | 124000 | 2 |
0.470 | 56769 | 2 |
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