KCN's travails are eerily reminiscent of Lynas' a few years ago.
Throughout 2018 and 2019 LYC traded in a narrow band $1.50- $2.50.
Political agitators conducted a vociferous and well funded campaign to shut down the Malaysian operations on the assertion it was polluting the groundwater with radioactive waste and causing cancers in the local population.
No conclusive evidence was ever presented.
When the Najib Govt lost the election, the new Industry minister vowed her first task would be to shut down LYC's operations.
However geopolitics intervened in the form of Trump's trade war with Chine
The Don posed the question some weeks ago "Who's funding the agitators?"
I suspect its a combination of Oz hedge funds and Thai interests accumulating while simultaneously depressing the SP.
LYC is now over $10 so the hedgies investment in rent- a- crowd operations has paid off in spades
Geopolitics for KCN?
Don't poke the bear
Once the heavy artillery is in position its game over.
KCN's travails are eerily reminiscent of Lynas' a few years...
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Last
$1.62 |
Change
0.020(1.25%) |
Mkt cap ! $417.5M | |||
| Open | High | Low | Value | Volume |
| $1.61 | $1.66 | $1.59 | $939.6K | 581.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7553 | $1.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.62 | 5378 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| KCN (ASX) Chart |