Hi Allee,
Back to being a lobster trap.
The moral of the story is that this is a risky investment that is a place for punters only who can afford to hold them and don't need to sell them.
It could be massively rewarding with the downside looking not very frightening given the currently known resources and economic studies.
2.3m shares on the buy side offering the princely sum of $67K = 2.9c average and a low of 1c
2.9m on the sell side at an average of 5.9c and a high of 16c.
(You can copy the depth numbers and post them into a spread sheet thankfully.)
The buy and sell side simply tells us that getting out is pain-full and buying any quantity is going to put a massive smile on the trapped lobsters faces.
Just remember that at current prices we have a very profitable project and shipping costs and mining costs are under a lot of downward pressure like the copper price is. The rising interest rates are definitely knocking the top off demand.
Christmas is coming and I'm sure Lachlan realises that without an FID thats puts us firmly on a path to profitable revenue he and our dreams will be in someone else hands and they won't be very benevolent.
The world looks like being in turmoil for quite a while yet. Wasting any of the precious time that Lachlan has forward funding for hoping for higher prices is a way to risky gamble IMO. If there is a profit on offer I think we should lock it in and get going.
Whilst in the current price and cost environment $100m free cash flow pa has been removed from the prize shelf, as long as we can get started, generate revenues, service the debt and make a profit we wont end up in the knackery. Positive cash flow is the life line we need so we are standing strong when the good times come back.
On the subject of rewarding things from SA I discovered Aston Hills Piccadilly Valley pinot noir. Nice.
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Open | High | Low | Value | Volume |
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Buyers (Bids)
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---|---|---|
6 | 230739 | 6.1¢ |
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7 | 403439 | 0.060 |
4 | 331966 | 0.059 |
4 | 442323 | 0.058 |
1 | 372000 | 0.057 |
Price($) | Vol. | No. |
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0.062 | 146172 | 3 |
0.063 | 129490 | 3 |
0.064 | 75333 | 1 |
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