How illiquid this stock to me almost makes the day to day price action irrelevant. For instance I believe an order of $900 closed the price at 2.8 yesterday- which wiped $600k of the valuation of CNJ. Of course works both ways as often the price can rise on a low volume buy order as well.
Fundamental circumstances such as drilling and/or further Cobalt price increased should bring with it increased volume.
And on the latter note a new 2016 high of $27,750 USD achieved today (30th Sept) on the London Metal Exchange.
Mt Thirsty's 40,000 Tonnes *$27,750 = $1.11B USD. Add 15% for the output being oxidised and we get $1.27B USD. Convert to AUD and the total value of the Cobalt in the ground at the moment is: $1.67B AUD
With the nickel and magnesium and you are looking at revenue well over $1B AUD each for both CNJ and BAR.
How illiquid this stock to me almost makes the day to day price...
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Last
0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $4.403M | |||
| Open | High | Low | Value | Volume |
| 0.1¢ | 0.2¢ | 0.1¢ | $880 | 501.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 32 | 43660967 | 0.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.2¢ | 44662567 | 29 |
View Market Depth
| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| CNJ (ASX) Chart |