There lies the simple point and all the analysts are calling mothballing Southern Iron operations a good decision. So if we have this recognized as a good decision, the impairments more than fact in and a strategy to move from burning cash from io operations to generating cash certeris paribus the market must reward ARI for this decision in the short term as short term catalyst to re-rate the share price. Hence, seen as in better position after they announced this on Friday.
As analyst commented on your money - good run on Thursday seemed a case of buy the rumour - sell the fact with typical profit taking into long week and shorters / accumulators taking advantage of this. IO at 5 year lows on Friday did help. But short term also seeing other production being mothballed / cut around the world as 30% of world production uneconomic at these prices.
Given this a week or two and lets check back on this simple analysis above.
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Mkt cap ! $20.41M |
Open | High | Low | Value | Volume |
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---|---|---|
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No. | Vol. | Price($) |
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1 | 29056 | 0.033 |
1 | 300000 | 0.032 |
3 | 474495 | 0.031 |
3 | 756378 | 0.030 |
2 | 350000 | 0.029 |
Price($) | Vol. | No. |
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0.034 | 250400 | 2 |
0.036 | 114739 | 2 |
0.037 | 557589 | 2 |
0.038 | 200000 | 1 |
0.039 | 598837 | 6 |
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