Recently announced cost-cutting measures did not go deep enough.
I can't see the fundamental backdrop improving for a lengthy period, and in the meantime, cash preservation measures need to be urgently addressed and accelerated.
CHN is still acting like a $3 billion company. The reality is they will be lucky to survive this market debacle.
An interesting comparison is the betting stocks that were trading on crazy multiples and were flush with cash but kept on spending on uneconomic measures only to retrench their spending when it was too late.
Ann: Resignation of Director - Morgan Ball, page-5
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Last
$1.26 |
Change
0.105(9.13%) |
Mkt cap ! $488.2M | |||
| Open | High | Low | Value | Volume |
| $1.21 | $1.28 | $1.18 | $6.755M | 5.487M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 19991 | $1.26 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.28 | 6335 | 2 |
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| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| CHN (ASX) Chart |