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
$1.64 |
Change
-0.030(1.80%) |
Mkt cap ! $651.5M | |||
| Open | High | Low | Value | Volume |
| $1.67 | $1.70 | $1.62 | $2.256M | 1.354M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 4514 | $1.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.65 | 11371 | 13 |
View Market Depth
| Last trade - 12.38pm 04/06/2024 (20 minute delay) ? |
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Last
$1.64 |
Change
-0.030 ( 1.47 %) |
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| Open | High | Low | Volume | ||
| $1.69 | $1.70 | $1.62 | 341260 | ||
| Last updated 12.57pm 04/06/2024 ? | |||||
| CHN (ASX) Chart |