S2 continues to trade sideways as predicted (see previous chart) but with less interest from buyers imo
S2 needs to hold at 16 cps or it could drift into a lower trading range.
On fundamentals, for all the attractiveness of the company such as nearology and legendary ownership and management the market valuation could still be considered high for an explorer with no significant discoveries. There would also be concerns about the timeline to serious deep drilling given that the likely staged approach could stretch out, even into Q1 next year.
My Honest Opinion
S2 continues to trade sideways as predicted (see previous chart)...
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Last
12.5¢ |
Change
0.010(8.70%) |
Mkt cap ! $56.60M | |||
| Open | High | Low | Value | Volume |
| 11.5¢ | 12.5¢ | 11.5¢ | $3.89K | 33.48K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 900 | 11.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.5¢ | 91307 | 2 |
View Market Depth
| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| S2R (ASX) Chart |