IMO nothing happened which is kind of making the quick-buck and traders volume going away for a bit. Daily volume is low in 500,000 share a day range or 0.2% of the share at issue. However on the flip side the low volatility help confidence to increase the holdings.
Honestly with all miners in the Lithium space losing money this guy can still make $ 300 M of sales and $60 M of profit @ 170,000 ounces and 1800$/ounce Price and 1450 $/ounce at $ 300 Market CAP. 1800$/ounce selling price is conservative as the company policy is 50%/50% and current spot market is still at $ 2130 AUD.
Good things are going to happen at some stage. And even without TO the Phoenix ridge exploration and a 1H result above guidance will support SP anyway. Also remember Rohan said he expects to mine the high grade in the March June quarter.
All in all either way with To or organic growth and an investment outlook of 1 year it is a solid story.
just IMO and as usual DYOR.
DCN Price at posting:
$1.35 Sentiment: Buy Disclosure: Held
