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
I hope there isn’t an over reaction to this. It has been flagged...
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Last
11.0¢ |
Change
-0.005(4.35%) |
Mkt cap ! $233.1M | |||
| Open | High | Low | Value | Volume |
| 12.0¢ | 12.0¢ | 11.0¢ | $1.395M | 12.06M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 21 | 2065396 | 11.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.5¢ | 1951109 | 6 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
11.5¢ |
Change
-0.005 ( 1.37 %) |
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| Open | High | Low | Volume | ||
| 11.8¢ | 12.0¢ | 11.3¢ | 3267295 | ||
| Last updated 15.55pm 03/05/2024 ? | |||||
| PEN (ASX) Chart |