I've been thinking about the next catalyst likely to cause an upward movement in the
share price, and when it might arrive. I want to stick to facts here, not rely on management's
promises and forecasts. The key ongoing news items are probably those listed in the
last company update on 25 May - Permitting, Grade Control, Engineering, Power, Port,
Offtake, Financing. The next update will most likely be the quarterly reports
(activities and cashflow) which came out last year on 30 July. Since they are inherently
backward looking, the reports will only report fresh news from 26 May - 30 June, and most likely
the news will not be "big" because VRX would have had to announce that to the market by now.
Perhaps the important items are Permitting and Offtakes, and nothing much happened with
either in June. The EPA website is still not updated with VRX's submission of the ESD, maybe in
coming weeks this might happen. VRX might comment on Delphi's involvement since the
"change in substantial holder" was announced on 1 June. Overall, I'm not expecting anything
significant in next quarterly, at least nothing that might cause shareholders to become "excited".
Over the next 6-12 months, the EPA application should progress through stages 3-5, a cause
for optimism as each stage is completed. The offtakes could drop in the second half of 2021,
but recent history suggests that management has decided to take its time. In summary, I can't
see any short-term catalyst that might cause the share price to show more bullish behaviour.
What do other people think ?
All IMHO, DYOR
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Last
2.9¢ |
Change
0.002(7.41%) |
Mkt cap ! $18.21M |
Open | High | Low | Value | Volume |
2.8¢ | 2.9¢ | 2.8¢ | $5.818K | 207.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 404937 | 2.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.9¢ | 22499 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 404937 | 0.028 |
7 | 1069150 | 0.027 |
2 | 310860 | 0.026 |
3 | 144995 | 0.025 |
1 | 100000 | 0.024 |
Price($) | Vol. | No. |
---|---|---|
0.029 | 22499 | 1 |
0.030 | 1697048 | 5 |
0.031 | 186660 | 1 |
0.048 | 46773 | 1 |
0.050 | 6349 | 1 |
Last trade - 15.45pm 27/09/2024 (20 minute delay) ? |
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