Not a superb quarterly if you ask me. If you look at the previous investor presentation (from March - 6 weeks ago) you'll see now that they missed 2 milestones. A study on the assets and on the oxide restart were due this month. Big deal that it's off by a few more weeks? Well, this co has struggled with 'doing what they say' for forever. Also, cash burn is higher than what was laid out when they relisted.
I see the traders ran amok here. Don't blame them as we are a penny stock after all. To me there was going to be no easy way to clear 4c as the overhead weight here is massive from the last CR. Plenty of ppl will want out - partially due to more failed promises.
What's fair value? Imo 3c. Price of copper only applies if the copper will ever come out of the ground. Without a restart study plan, the copper stays in the ground. Will it get to 16c/20c? Yes, but only after some kicked goals.
Not a superb quarterly if you ask me. If you look at the...
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Last
3.6¢ |
Change
0.001(2.86%) |
Mkt cap ! $54.89M | |||
| Open | High | Low | Value | Volume |
| 3.6¢ | 3.8¢ | 3.4¢ | $389.5K | 10.68M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 270705 | 3.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.8¢ | 1004008 | 4 |
View Market Depth
| Last trade - 16.10pm 17/05/2024 (20 minute delay) ? |
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Last
3.6¢ |
Change
0.001 ( 2.86 %) |
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| Open | High | Low | Volume | ||
| 3.5¢ | 3.8¢ | 3.5¢ | 4550891 | ||
| Last updated 15.58pm 17/05/2024 ? | |||||
| CYM (ASX) Chart |