The gap down was all fundamentals driven off the back off the disappointing sandstone FS & failed restart operations.
Looking back in hindsight is easy, but Rick could have expanded drilling further to have further grown the resource, converted more of the existing resource into measured & indicated (so they actually be used for feasibility and calculating ore reserves) & lastly even have looked into undertaking a cap raise when the SP was higher (around 2.2-2.4 cents pre-consolidation) to acquire a nearby deposit. Shareholders would have been pissed, however, would have prevented the aftermath of what happened.
Hell, he could have even undertaken a raise early in 2021 to do all the above.
But it is what it is. & i wish AUN all the success at Sandstone.
It effectively is a new story now, a flip of a coin, confirmation of a major discovery and we're multi-bagging.
Things can change very fast into the microcap space. Just look at XTC the entire market had written them off as at the biggest dog etc but a pivot to different project and old long term investors had 5-7bagged!
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middle island resources limited
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The gap down was all fundamentals driven off the back off the...
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Last
2.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $6.157M |
Open | High | Low | Value | Volume |
2.2¢ | 2.3¢ | 2.1¢ | $17.62K | 804.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 203461 | 2.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.4¢ | 250000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 203461 | 0.021 |
2 | 291413 | 0.020 |
1 | 200000 | 0.018 |
2 | 1269214 | 0.015 |
2 | 90000 | 0.012 |
Price($) | Vol. | No. |
---|---|---|
0.024 | 250000 | 1 |
0.025 | 499999 | 1 |
0.026 | 500000 | 1 |
0.028 | 55000 | 1 |
0.029 | 193839 | 2 |
Last trade - 15.56pm 16/06/2025 (20 minute delay) ? |
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