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Now PEN is trading a 1 cents.( after taking 1 for 50 consolidation in mind)
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Looking at the Money PEN needs for next phase development before they ever turn cash flow positive (which is few years away from now) it should continue to slide towards 30 to 40 cents.
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PEN needs another capital raising. Cant fund development else "Pala" will become largest shareholder.
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http://asic.gov.au/about-asic/media...e-chairman-of-olea-australis-limited-charged/
Lance Stage 1, page-12
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Last
8.3¢ |
Change
-0.001(1.19%) |
Mkt cap ! $264.5M | |||
| Open | High | Low | Value | Volume |
| 8.4¢ | 8.4¢ | 8.2¢ | $607.3K | 7.334M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 1237377 | 8.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 8.3¢ | 350000 | 1 |
View Market Depth
| Last trade - 16.10pm 14/11/2024 (20 minute delay) ? |
| PEN (ASX) Chart |