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
20.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $559.8M |
Open | High | Low | Value | Volume |
20.0¢ | 20.3¢ | 18.5¢ | $1.310M | 6.694M |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 3000 | 19.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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20.0¢ | 278379 | 7 |
View Market Depth
No. | Vol. | Price($) |
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1 | 3000 | 0.195 |
6 | 80157 | 0.190 |
20 | 756841 | 0.185 |
33 | 1324070 | 0.180 |
15 | 1803575 | 0.175 |
Price($) | Vol. | No. |
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0.200 | 278379 | 7 |
0.205 | 452734 | 8 |
0.210 | 210651 | 4 |
0.215 | 160883 | 5 |
0.220 | 158051 | 6 |
Last trade - 16.10pm 17/06/2024 (20 minute delay) ? |
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Last
19.3¢ |
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Change
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Open | High | Low | Volume | ||
20.0¢ | 20.0¢ | 19.0¢ | 2889360 | ||
Last updated 15.59pm 17/06/2024 ? |
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