Off market Cross trade.
We have on an average 3 million shares trading every day in last 5 days - So looking at bigger picture this parcel of 200K shares is not material. Probably just someone transferring shares between 2 accounts to manage tax. Broker just puts it through the market.
Todays price action got me thinking. Towards the close and into the closing auction the price went up slightly from 30.2 to 30.65. Whereas the pure play lithium stocks like PLS continued to fall. Here is my thought
Max downside that Iron Ore has from here is $10 - At $80 all hell will break lose and almost 500 mt will be uneconomic and leave the supply side.
Whereas the Lithium carbonate at 72K is already uneconomic for all but Greenbushes
At some point MinRes will become a safer place when compared to pure play lithium stocks - It has 600M of services EBITDA plus relative safety of iron ore not falling below 80 and still making cash for MinRes.
haha how things can change!
Off market Cross trade. We have on an average 3 million shares...
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 (20min delay)
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Last
$47.94 |
Change
-3.290(6.42%) |
Mkt cap ! $9.421B | |||
| Open | High | Low | Value | Volume |
| $49.80 | $49.82 | $46.48 | $148.1M | 3.091M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1264 | $47.93 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $47.96 | 501 | 2 |
View Market Depth
| Last trade - 16.10pm 09/10/2024 (20 minute delay) ? |
| MIN (ASX) Chart |