I hope there isn’t an over reaction to this. It has been flagged previously and it is probably a call made by management based on the current high marginal cost of production to meet contracts versus buying on spot. Until the new extraction method is implemented a reduction in contract price to allow additional spot purchases could be more economic.
Unless there is a material reduction in the contracted quantity I don’t think this announcement should be absolutely terrible...
Just my uninformed opinion/optimistic guess
Ann: Trading Halt, page-17
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Last
10.5¢ |
Change
0.005(5.00%) |
Mkt cap ! $334.6M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 11.0¢ | 10.3¢ | $3.020M | 28.35M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 49 | 6313454 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 450066 | 4 |
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| Last trade - 16.10pm 17/10/2024 (20 minute delay) ? |
| PEN (ASX) Chart |