demand and Supply.
I'm sure a lot of people are waiting on the sidelines for now to see what happens.
As for volumes it has been rather low.
2.284m on Wednesday (and im sure atleast 600k of those were the same shares traded atleast 2 or 3 times).
821k on Thursday
256k on Friday
So from my own personal perspective I view Wednesday as a sell of for those who needed the cash not from anything else. Demand was also low ( as I beleive that people are waiting to see more details) Maybe this details will be confirmed for some with Magnetio Survey maybe they want to see more from initial drilling. Each has their own views as to when to buy and how long to hold. Once demand increases we may get back to what I believe is fair value (somewhere between 50c and $1) depending on peoples view of the data).
cheap as chips, page-26
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Last
$1.85 |
Change
-0.055(2.89%) |
Mkt cap ! $2.172B | |||
| Open | High | Low | Value | Volume |
| $1.88 | $1.89 | $1.84 | $8.102M | 4.361M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 140129 | $1.85 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.85 | 3784 | 1 |
View Market Depth
| Last trade - 16.10pm 18/07/2024 (20 minute delay) ? |
| BGL (ASX) Chart |