Good question. Same question could be asked of why they brought 24% of DLI around 90c and now the price is 28.5c (about a third of the buying price). Looks like a bad deal for Min Res shareholders. Same thing could happen to WC8 - Min Res looks like they have brought at a very high price for both stocks.
I just do not get what MIn Res are doing - they even brought Bald Hill which did not survive low prices.
Companies do not always excite a sound strategy - many get it wrong and even the biggest and best often get it wrong. BHP has had a few big disasters where they paid billions but ended up writing off the whole investment or selling it for peanuts.
Chart, page-314
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Last
28.0¢ |
Change
-0.005(1.75%) |
Mkt cap ! $342.7M | |||
| Open | High | Low | Value | Volume |
| 28.0¢ | 28.5¢ | 27.5¢ | $249.9K | 899.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 272348 | 27.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 28.0¢ | 187467 | 4 |
View Market Depth
| Last trade - 16.10pm 01/10/2024 (20 minute delay) ? |
| WC8 (ASX) Chart |