apart from shorting, the issues I see seems to be that you can't sell something for less than you produce it and expect to stay in business for very long. heading towards a price of $40 per pound they can't be making much if anything. the price has dropped 25% is a fairly short time and no recovery in sight.
no idea what their debt convenants are but i'd be surprised if there wasn't a market cap clause in there some place and that must be getting tested.
so asset sales or a capital raising or both are probably on the agenda.
no wonder the shorters are in there. merrill lynch analyst that had them at a value of $2.70 must be looking for some place to hide.
i have been watching and waiting for opportunity to buy into this stock but there is no way I'd be touching it given all of the above.
apart from shorting, the issues I see seems to be that you can't...
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Last
$13.04 |
Change
-0.130(0.99%) |
Mkt cap ! $3.880B | |||
| Open | High | Low | Value | Volume |
| $13.10 | $13.15 | $12.94 | $8.956M | 686.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 26 | 3550 | $13.04 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.05 | 4100 | 15 |
View Market Depth
| Last trade - 12.37pm 05/07/2024 (20 minute delay) ? |
| PDN (ASX) Chart |