Fundamentals of the project have improved consistently from when this was first acquired and the SP has gone on quite an orbit to land back here. Loads of projects go through this post-discovery and pre-development.
CXO and CHN are examples, with the former hitting 1 cent after many good strikes and MRE upgrades before building up to $1.50 through contract signing and offtake agreements and finally shipping. Having some teething issues now but still 50 times the price of the post-discovery lows. CHN hit huge grades but are now facing a costly development and need to start heavy investor fellations to get back up.
EM2 isn't any different. Has ore, will do demeaning things for cash investments to get it out. My vote is Mason gets first turn in the barrel to please those with deep pockets.
Dilution is expected but it isn't going to sink this project, yet.
EM2 Chart, page-107
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Last
5.7¢ |
Change
-0.003(5.00%) |
Mkt cap ! $22.39M | |||
| Open | High | Low | Value | Volume |
| 5.9¢ | 6.0¢ | 5.7¢ | $123.0K | 2.111M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 558903 | 5.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 6.0¢ | 148000 | 3 |
View Market Depth
| Last trade - 16.10pm 04/06/2024 (20 minute delay) ? |
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Last
5.8¢ |
Change
-0.003 ( 3.33 %) |
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| Open | High | Low | Volume | ||
| 6.0¢ | 6.0¢ | 5.7¢ | 468787 | ||
| Last updated 15.56pm 04/06/2024 ? | |||||
| EM2 (ASX) Chart |