It seems to me that the shorters still selling more at the moment are either purely gambling or feeling trapped and don’t want to give up any of their paper profits.
Either way it appears the only future event that might make their dream come true is a CR (or talk of it).
What I don’t understand is that if and when this happens we will presumably already have mining approval, a DFS (and possibly BFS), more BOA’s and maybe further developments in HPA, carbon capture etc etc. I would have thought by this stage it’s derisked to the point where it’s pretty much a scoop and sell operation. So why would a modest CR at this point (I personally believe it will be a 75/25 debt equity split) result in a reduction in sp from where it is now?
I must be missing something because these shorters are pretty smart, yeah?
It seems to me that the shorters still selling more at the...
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1.6¢ |
Change
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Mkt cap ! $49.76M | |||
| Open | High | Low | Value | Volume |
| 1.8¢ | 1.8¢ | 1.5¢ | $797.4K | 49.05M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 2397883 | 1.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.7¢ | 2031381 | 4 |
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| ADN (ASX) Chart |