The 20 million native title claim if successful will be worth 3 cents according to citibank yet the share price as gone down close to 25 cents.
Technically it is way oversold.
Fundamentally way undervalued.
You can argue about price of nickel going down, strong AUD,etc etc but at this prices it is cheap. And if it proves the sceptics wrong and continue to perform next yr you might even see the price double from here.
oversold., page-6
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Last
$1.99 |
Change
0.000(0.00%) |
Mkt cap ! $301.3M | |||
| Open | High | Low | Value | Volume |
| $1.99 | $1.99 | $1.99 | $373.3K | 187.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 3530 | $1.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.99 | 184311 | 4 |
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| Last trade - 15.43pm 08/11/2024 (20 minute delay) ? |
| MRE (ASX) Chart |