I don't think calling this a dog stock is fair. A number of things have given rise to price action with only some being to do with fundamentals.
On the way up:
-rise from $6 mainly attributed to Van Eck forced buying and associated momentum.
On the way down:
-higher than expected CAPEX-Indications of rapid financing of Dubbo by timeframes given in framework agreement, with little to show for it-Slower than expected progress on metals production
-General deteriorating market conditions-Increasing short action
-Van Eck forced selling
For me the key point is that the Korean Consortium and ASM came up with a Dubbo valuation circa $12 a share BEFORE the price ran to $14. While sale discussions continue I remain unconcerned.
I don't think calling this a dog stock is fair. A number of...
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Last
58.5¢ |
Change
0.035(6.36%) |
Mkt cap ! $106.0M | |||
| Open | High | Low | Value | Volume |
| 56.5¢ | 59.5¢ | 55.5¢ | $169.5K | 294.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 90516 | 55.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 58.5¢ | 8625 | 1 |
View Market Depth
| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| ASM (ASX) Chart |