All short term pain (admittedly very painful). However, perhaps we need to calm down and think about it logically for a second.
1) Volume is light. This is not a rout … this is simply a price slipping on the back of no significant news (which is understandable given there is a number of items which are ridiculously overdue now). When we see volumes of 10 Million plus then I think we will have just cause to get worried
2) Sellers are small time holders who probably bought in the run up to 38 cents on a punt without the faintest idea of African idiosyncrasies that go along with doing business in this region. Have only seen one or two larger licks go through.
3) Buyers are not soaking this up as they ordinarily would and hence the price is falling (which makes perfect sense … why would you buy something which looks like it’s in a tail spin now when you could conceivably buy it later on at a lower price or when it is in the process of rebounding?)
Net effect when you have scared sellers and opportunistic buyers … price slide.
I feel for anyone who is holding (as I am) as we are seeing some serious paper profit go up in smoke however ultimately this is the risk we take playing in this end of the market. Anyone who can’t handle the heat should get out of the kitchen. As for me … I will go the distance on this not because I have confidence in the management (I don’t) and not because I have any real attachment to the company (I don’t) but because all things being equal, this is a significantly undervalued and underrated project and it’s simply a matter of time until the relevant news flow hits and then we will have people running back into the forum spruiking the fact that this thing is going to the moon … ebbs and flows friends.
Going to get myself a XXXX and enjoy the weekend. Ciao for now all and hope you all have a relaxing weekend. Monday will be a new day (hopefully with less erosion than today)
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Last
42.0¢ |
Change
-0.020(4.55%) |
Mkt cap ! $87.70M |
Open | High | Low | Value | Volume |
44.0¢ | 44.0¢ | 41.0¢ | $47.46K | 113.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 36126 | 42.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
44.0¢ | 32174 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 36126 | 0.420 |
1 | 2000 | 0.410 |
3 | 27704 | 0.400 |
1 | 5000 | 0.385 |
1 | 15000 | 0.360 |
Price($) | Vol. | No. |
---|---|---|
0.440 | 32174 | 2 |
0.445 | 28181 | 2 |
0.450 | 84180 | 4 |
0.455 | 135 | 1 |
0.470 | 6382 | 1 |
Last trade - 15.37pm 16/08/2024 (20 minute delay) ? |
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