So they bought 318m shares at 11c and will sell them lower than the 11c they bought the shares at. Real logic in that. lol
Daily volumes traded; Monday 20.6m, Tuesday 8.4m, Wednesday 2.0m, Thursday 2.9m so we are back at normal trading volumes currently.
You would think most current buyers will hold their shares till 15c and get a free option. Who can tell where or what the weak hands will do?
If you believe in the copper thematic as much as Robert Friedland does, then there is plenty of upside left over the coming years.
Don't lose sight of the fact that MAC finally bought the CSA Copper mine off Glencore on 22nd November 2022 for US$1.1 Billion and can produce between 40-50Ktpa of copper. In 2021, the CSA mine churned out 40,530 tonnes of copper in concentrate. At the time FX rate was around $1.50 AUD making the transaction worth around AUD$1.65B
BHP are in the process of TO of OZ Minerals which doesn't have a tier 1 project. BHP just wants some long term exposure to copper.
So they bought 318m shares at 11c and will sell them lower than...
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Last
4.4¢ |
Change
0.002(4.76%) |
Mkt cap ! $67.08M | |||
| Open | High | Low | Value | Volume |
| 4.1¢ | 4.4¢ | 4.1¢ | $164.2K | 3.856M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 867805 | 4.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.4¢ | 634685 | 3 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| CYM (ASX) Chart |