What is plan B?
Plan A seems to be keep drilling until the cash runs out.
Surely by now the penny should have dropped - the market's apparent unanimous view is that $1.6 billion plus to build a mine is a non starter.
They should start digging while they have some brass left - if prices remain rs then stockpile the ore - sooner or later the markets will turn.
I would be most surprised if Chinese buyers have not already put their hand up to take the ore straight out of the ground.
CHN chart, page-5971
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Last
$1.07 |
Change
0.035(3.40%) |
Mkt cap ! $414.2M | |||
| Open | High | Low | Value | Volume |
| $1.05 | $1.09 | $1.05 | $2.859M | 2.686M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 11150 | $1.06 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.08 | 14000 | 2 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| CHN (ASX) Chart |