It was red all around the world yesterday - LMG dropped much more than the ASX. Today the ASX is green but LMG is down over 5%. The problem is that due to the recent reports/announcements, LMG now has little resilience in the market. If we look at depth there's not much support. It's more a question of how low it has to get before one or more of the top 20 step in to prop it up. If it drops closer to 3c I may accummulate a few.
It would help if LMG could
- assure the market that there will be no capital raise in the next 12 months,
- some firmer dates for MgO production,
- an explanation of why they have paused planned Mg production, what their modelling tells us about how much operating cost will be covered by planned MgO only production,
- What price they are getting for their MgO,
- an update on how far they have progressed in hiring staff for the 3 operations shifts
- Some timelines for stage 2 - site selection completed by..?, permits approval by..??, BFS expected to be completed by...?, FID completed by??, new start build date
- Tell us if they have lodged application for 2023/24 tax rebate
- What finanace is already secured for stage 2(I recall DP saying that funding was in place last year)
that would give the market some confidence, thus more resilience for LMG. Unfortunately I can't make the meeting tomorrow - hopefully they will record and post the update with Q&A.
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- Ann: Quarterly Activities/Appendix 5B Cash Flow Report
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-38
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Last
3.6¢ |
Change
0.001(2.86%) |
Mkt cap ! $84.54M |
Open | High | Low | Value | Volume |
3.6¢ | 3.6¢ | 3.6¢ | $312 | 8.666K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 26849 | 3.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.7¢ | 135000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 26849 | 0.035 |
5 | 544884 | 0.034 |
2 | 370000 | 0.033 |
3 | 87658 | 0.032 |
1 | 95000 | 0.031 |
Price($) | Vol. | No. |
---|---|---|
0.037 | 135000 | 1 |
0.038 | 16170 | 3 |
0.039 | 63000 | 4 |
0.041 | 4719 | 1 |
0.042 | 100000 | 1 |
Last trade - 10.27am 14/10/2024 (20 minute delay) ? |
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