Share price has been trending down the same as the rest of the Nickel stocks, tough market with Indonesia ramping up production. Shares are currently exchanging hands from the impatient to the patient (as is wealth).
Clearly Chinese controlled Indonesia cannot and will not be able to supply greater than 60% of the worlds Nickel going forward. Cracks already emerging in the Indonesian ramp up.
The pull back on Nickel price has been on the assumption that Indonesia can successfully ramp up and sustain supply growth. If they fail or fall short you have a Nickel bull market again.
Analysts are still predicting that High Nickel cathodes of NCM chemistry will be the greatest marketshare of EV battery technology going forward.
Fundamentals are all still intact, company is continuing to develop the project just transitioning through a Nickel bear market, has happened before and will happen again. Thankfully it only affects the share price and sentiment short term during development cycle. Better than being in production and going bankrupt due to debt and operating commitments.
Aston will be releasing Nickel drill results and gold metallurgy results soon.
Patience is key IMO.
ASTON .. My Take, page-229
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Last
1.1¢ |
Change
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Mkt cap ! $14.24M | |||
| Open | High | Low | Value | Volume |
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Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 5171782 | 0.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.1¢ | 2321136 | 5 |
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| ASO (ASX) Chart |