the main downpusher of this stock has been predictions of a poor NPAT next year. The market has factored that in and left the price there post dilution.
This is a company where cornerstone investors paid 29c to maintain their holding
Rio shelled out 2.5million to take up its entitlement in a year when it was selling down assets
If the company reaches close to last years profitability(which it should over a year) then post dilution (at a PE of 10) the valuation would be closer to 50cents with upside upto 80c. I agree many people are waiting for next quarters results (which if it beats estimates may see the price spike - if not it need not tank because the market is not expecting a good quarter anyway)
The looming question - HOW THE HELL WILL THEY DEVELOP SOUTHDOWN. The answer: I dont know,and most likely most of you dont know - BUT I agree with Hongjiang that Shagang and Sojitz are prudent in spending their money - If they are pouring down millions it is because they see a profitable and viable option at southdown. ensuring supply is one thing - but you dont spend millions just to ensure supply - butt to make profit on both ends
and there are no catch the moon stories for this stock - its got only non exciting known facts - - so volatility downwards at this bottom levels is unlikely -- good to hold for the long term is my amateur opinion
chalk it down bottom dweller 2010 the year.??, page-9
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Last
36.0¢ |
Change
-0.010(2.70%) |
Mkt cap ! $416.6M | |||
| Open | High | Low | Value | Volume |
| 36.5¢ | 36.5¢ | 35.5¢ | $621.5K | 1.727M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 46745 | 35.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 36.0¢ | 45534 | 3 |
View Market Depth
| Last trade - 16.10pm 10/07/2024 (20 minute delay) ? |
| GRR (ASX) Chart |