I am not worried about this at all. I get worried about a stock when I cannot seem to understand the selling, which means 1.) There is a leaky ship with some bad news 2.) Smart money dumping, in turn leading to panic selling RIP share price or 3.) unexplainable director selling.
In the case of CLA i believe all the selling today is absolutely warranted and explainable, here is why:
1.) 400,000 unlisted options with a strike of 1c were just converted, not sure who they were too but my guess would be a broker for one of the placement. At a price of 1c you would be an absolute moron to not convert and sell some at the moment
2.) The cobalt price is down circa 10k over the last 2 or so weeks. As mentioned before this means absolutely nothing if the SS is based on a 60k per tonne price.
3.) With trade war chatter anything resources has been taking a wack. See RIO, FMG, BHP, S32 also see the price of copper / nickel falling off as well.
4.) The Chinese markets have not been performing very well over the last couple of days, china is will be one of the biggesst importers of cobalt in the world, at this moment I believe that much like the US if China sneezes everyone catches a cold
I am not concerned and dont think anyone else should be as well. As long as management continue to provide prompt and on time (unless warranted delays) announcements and continue to get a SS to the market asap, I dont see our resource getting any smaller and I dont see our resource moving and I dont see directors wanting out either. To top all of this off, a very indepth ASX inquriy into the company re the JORC announcement did no damage at all.
hold on tight all is well holders
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Last
1.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $30.85M |
Open | High | Low | Value | Volume |
1.2¢ | 1.2¢ | 1.2¢ | $30.62K | 2.552M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 180846 | 1.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.3¢ | 778881 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 180846 | 0.012 |
34 | 8416083 | 0.011 |
20 | 15052995 | 0.010 |
8 | 826330 | 0.009 |
4 | 820074 | 0.008 |
Price($) | Vol. | No. |
---|---|---|
0.013 | 778881 | 2 |
0.014 | 1480000 | 4 |
0.015 | 5274349 | 4 |
0.016 | 2139775 | 4 |
0.018 | 482000 | 5 |
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