There are two popular stocks on the ASX that Squire believes could face challenges from here: Latin Resources (ASX: LRS) and De Grey Mining (ASX: DEG). These companies have seen their share prices rise 170% and 29% respectively over the past 12 months. "If you go back to the criteria that I mentioned before - you have a look at Azure, Patriot, and Liontown - they've all got really thick deposits that are high grade," Squire says. "Yes, Latin Resources is a reasonably large resource, but it has multiple skinny loads. It will be very difficult to mine and there is a high risk of impurities coming into the concentrate they process." Squire believes the market is starting to wake up to these technical challenges, with the stock's share price falling 35% since hitting a high in August. "It's starting to fall apart and that's being reflected in the numbers as people start to think about the next stage of production. I think it's got the potential to fall further as we start to see those challenges surface," he says.
Let me start by saying that I am NOT a downramper; I have held LRS for quite a while and enthusiastic about their prospect.
However, reading the above article on Livewire 17/10 I wonder what others feel? Not being an expert, I don't feel fully equipped to comment, but would greatly appreciate feedback.
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Last
26.0¢ |
Change
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Mkt cap ! $728.8M |
Open | High | Low | Value | Volume |
25.5¢ | 26.0¢ | 24.5¢ | $2.114M | 8.363M |
Buyers (Bids)
No. | Vol. | Price($) |
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7 | 190605 | 25.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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No. | Vol. | Price($) |
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5 | 188925 | 0.255 |
3 | 736000 | 0.250 |
15 | 1184872 | 0.245 |
14 | 499580 | 0.240 |
11 | 653479 | 0.235 |
Price($) | Vol. | No. |
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0.260 | 28546 | 1 |
0.265 | 111859 | 6 |
0.270 | 612218 | 6 |
0.275 | 1795000 | 8 |
0.280 | 1083899 | 25 |
Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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Last
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Change
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Open | High | Low | Volume | ||
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Last updated 15.59pm 24/05/2024 ? |
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