STX

12.0%

28.0¢ strike energy limited

Should be fixed shortly with the Se1 update. Share prices...

First 152 Last

Share
Profile

Follow
wot

9,754 Posts.

1344

18/06/24

15:59

Post #: 74373099
Share

Originally posted by invertedva: ↑

It's somewhat ironic that there's all this hand-wringing about a supposed capital raising (a lot of it confected by those with ulterior motives, I believe).
It's ironic because, in the worst-case scenario, they might raise $40 million. I think this is very unlikely, but even if it does happen, this isn't that much relative to the current market cap. Also, any money raised would only be used to pursue some high-probability, high-impact 3D seismic and drilling targets.
Any rational shorter can see this. There are dozens of companies with high debt and low FCFs on the ASX that would make easier shorting targets than STX on the basis of "a potential capital raising." Yet, STX remains the 12th most 'shorted' stock on the ASX. Furthermore, any rational shorter would also be closing out their existing positions while the share price has been sitting at 52-week lows these past few months (following the disappointing SE2/3 results), not increasing their overall exposure.
To me, it's pretty clear the share price is being 'managed' around the 20-cent levels for other reasons. We've all seen the blatant sell-side capping and the willingness of some large holder(s) to sell into the strength following the excellent Walyering 7 results and The Australian article (about Gina building towards a 5% position) to prevent any upward momentum. Spreading this "impending capital raising" narrative is one component of their overall strategy, IMHO.

Expand

Should be fixed shortly with the Se1 update. Share prices fluctuate unless managed like this. T/o strategy is so apparent, the only question is when the big whale comes up to try and feed? Hope she misses out to a rival

Last edited by wot: 18/06/24

STX Price at posting: 19.5¢ Sentiment: Buy Disclosure: Held
8 Upvote

0 Great analysis

Reply

Top Stories

Week 26 Wrap: Cerberus of inflation barks – rents, electricity & fuel – and world watches two elders bicker

LRV

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

Microcap Wrap: 5 explorers with news out today

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

SS1

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

LU7

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

AVA

Ava Risk Group expands US presence with A$0.7M Substation Deal

RCE

Recce's R327 found effective against E.coli during clinical trial

CMX

ChemX Materials kicks off first stage works at WA high purity alumina pilot

SVL

Silver Mines models five new calderas close to 396Moz Bowdens deposit

There are more pages in this discussion • 71 more messages in this thread...

First 152 Last

Add STX (ASX) to my watchlist

(20min delay)
Last 28.0¢		Change 0.030(12.0%)		Mkt cap ! $801.0M

Open	High	Low	Value	Volume
24.5¢	28.3¢	24.5¢	$7.221M	26.82M

Buyers (Bids)

No.	Vol.	Price($)
5	293004	27.5¢

Sellers (Offers)

Price($)	Vol.	No.
28.0¢	820079	16

View Market Depth

No.	Vol.	Price($)
2	80250	0.275
14	1138369	0.270
5	465632	0.265
12	320576	0.260
3	252621	0.255

Price($)	Vol.	No.
0.280	482958	11
0.285	933593	12
0.290	299158	9
0.295	279001	7
0.300	1053232	15

Last trade - 16.10pm 28/06/2024 (20 minute delay)

STX (ASX) Chart

Should be fixed shortly with the Se1 update. Share prices...

Week 26 Wrap: Cerberus of inflation barks – rents, electricity & fuel – and world watches two elders bicker

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

Microcap Wrap: 5 explorers with news out today

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

Ava Risk Group expands US presence with A$0.7M Substation Deal

Recce's R327 found effective against E.coli during clinical trial

ChemX Materials kicks off first stage works at WA high purity alumina pilot

Silver Mines models five new calderas close to 396Moz Bowdens deposit

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Should be fixed shortly with the Se1 update. Share prices...

Top Stories

Week 26 Wrap: Cerberus of inflation barks – rents, electricity & fuel – and world watches two elders bicker

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

Microcap Wrap: 5 explorers with news out today

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

Ava Risk Group expands US presence with A$0.7M Substation Deal

Recce's R327 found effective against E.coli during clinical trial

ChemX Materials kicks off first stage works at WA high purity alumina pilot

Silver Mines models five new calderas close to 396Moz Bowdens deposit

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News