I've been waiting for a new BMX auction announcement.
Management absolutely have that card up their sleeve.
They can play it at any time of their choosing.
They would probably have ears to the ground regarding stockpiles and demand in china, better than us average Joes and Joannes. They did also visit China recently, after the visit to the POSCO JV plant in South Korea.
Therefore, should they choose to play it, I think it would likely be at the most opportune time, where they sense a heightened demand and urgency for product. It would achieve a price above (prior) spot pricing.
Remember, BMX auctions was the match that lit the fuse last time we were at record lows.
Now we are at stupidly low levels again, but this time PLS has 3 billion in the bank, double the production capability, two seperate plants, JV ramping up, and shorters are playing with a lighter in a fuel station with an insane +607 million shares sold short which need to be covered.
PLS management have proven they are intelligent, patient, and measured, but can also think and act quickly when opportunities arise (Altura).
I'm not giving advice, just uneducated opinions with my knock off beer. I'm betting that cards not only up their sleeve, but laminated and graded, mint condition.
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Mkt cap ! $12.49B |
Open | High | Low | Value | Volume |
$4.18 | $4.19 | $4.13 | $81.93M | 19.69M |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 45688 | $4.15 |
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Price($) | Vol. | No. |
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$4.16 | 78493 | 3 |
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18 | 255428 | 4.140 |
19 | 342953 | 4.130 |
13 | 251036 | 4.120 |
9 | 78272 | 4.110 |
Price($) | Vol. | No. |
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4.160 | 6403 | 2 |
4.170 | 74322 | 9 |
4.180 | 129299 | 7 |
4.190 | 261678 | 17 |
4.200 | 533777 | 97 |
Last trade - 16.10pm 21/05/2024 (20 minute delay) ? |
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Last
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