Price is now back to where it lay in 2002, just as Chartree was starting to produce.
Cots of production back then was $116/oz compared to $1,323/oz for the 9 months to March 2013.
Price of gold however, was $306.50 for the year (hedged) versus $1,659 per oz earned for the 9 months to March 2013.
Obviously, with spot prices around $1,450 per oz today, there is no margin for error. Something has to happen with Challenger because the company cannot afford a repeat of producing at over $1,900 an ounce. That is going out of business performance!
So Gavin Thomas and his team have got some "pulling finger out" work to do and Smyth-Kirk some shareholder protection activity.
Next level of support below this price looks to be around $1.80 and then mid $1.60's.
To lose 60% of your value in just over 20 trading days.
That's some performance!!
I hope institutional holders are baying for blood!
Price is now back to where it lay in 2002, just as Chartree was...
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Last
$1.59 |
Change
0.005(0.32%) |
Mkt cap ! $409.8M | |||
| Open | High | Low | Value | Volume |
| $1.63 | $1.65 | $1.58 | $301.7K | 187.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 27763 | $1.58 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.59 | 29 | 1 |
View Market Depth
| Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
| KCN (ASX) Chart |