This is my take on the SP drifting below 2.1C.
333M shares issued at 2.1 when SP was 2.7
Those investors are not dumping their shares as they will not want to sell at a lose. But they maybe feeding a portion of their holdings into the sell price dragging the SP lower and mopping up even more shares. In effect lowering their 2.1C buy in price even lower. They will get a bigger bounce in profits when drilling and drill results come out within the next 2 months. I would expect some heavy selling around the 3 - 3.5C mark as they have millions of shares to sell to recoup capital and a profit. Will be a good earn for a few months investment.
Just my read of things.
This is my take on the SP drifting below 2.1C.333M shares issued...
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Last
0.7¢ |
Change
0.000(0.00%) |
Mkt cap ! $13.61M | |||
| Open | High | Low | Value | Volume |
| 0.6¢ | 0.7¢ | 0.5¢ | $25.33K | 4.209M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1826750 | 0.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.7¢ | 4761187 | 13 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| BNL (ASX) Chart |