AKE 0.00% $9.83 allkem limited

ore vs gxy sp

  1. 1,912 Posts.
    Quite apart from comparing mkt caps, EV's, resources, grades, production costs, etc., I just wanted to further explore the idea suggested that the market is blindly tracking the ORE:GXY share prices.

    ORE's SP closed at $1.11 while GXY was at $1.525.

    Since 1 July ORE has issued the following (FPO) shares:
    NIL

    But in the same time, GXY has issued a mountain of them:
    3 Aug - 120,000 on exercise of options
    27 Aug - 420,000 on exercise of options
    8 Sep - 9,600,000 shares @ 0.35
    23 Sep - 1,209,000 shares on exercise of options
    21 Oct - 51,000,000 shares @ 1.28

    Consequently:
    Since July 1, ORE's shares on issue remain unchanged at 57,146,706 (plus 9,648,379 not quoted).

    But GXY's have increased from 76,125,816 to 138,474,816 in that time.

    So if it is true that the market is applying some kind of very rough rule of thumb based on the relative SP's, has it made any allowance at all for this?

    What about ORE at $1.11 vs GXY at something more like $2.80???

    Obviously, it's not the way to compare stocks, but if that explains some of what's happening, well....???
 
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