Doubt the bottom is in tbh. This will fall in unison with MEI until they diverge, at which point the downside to VMM will be limited given the already low market cap, however with MEI I'd be much more concerned of a significant fall.The lack of profitability at spot prices and the higher than expected capex as per comments from T2 have spooked the market.
Above is all my opinion.
VMM now need to find a way to lower capex, prove up the JV and show its value, expand on the HREE in Fazenda etc. Now is when the differentiators come into play.
Back down to 89c ?, page-190
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Last
69.5¢ |
Change
0.005(0.72%) |
Mkt cap ! $45.81M | |||
| Open | High | Low | Value | Volume |
| 69.5¢ | 70.5¢ | 67.0¢ | $34.75K | 50.21K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1481 | 67.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 70.0¢ | 5000 | 1 |
View Market Depth
| Last trade - 14.36pm 23/08/2024 (20 minute delay) ? |
| VMM (ASX) Chart |