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
92.0¢ |
Change
-0.020(2.13%) |
Mkt cap ! $166.6M | |||
| Open | High | Low | Value | Volume |
| 94.0¢ | 94.5¢ | 88.5¢ | $235.1K | 259.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2794 | 92.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 93.5¢ | 1000 | 1 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| ASM (ASX) Chart |