Hi Maya,
I think the sell off is because there is now another month delay
before the biggest announcement…… the POSCO JV.
The BEOT know they have a good month to drive the SP down , scare a few retail folk into parting with shares, trigger a few stop losses and accumulate more stock for themselves.
I wouldn’t be surprised to see it go back to about $1.30 .
I am still holding 75% of my stake for the long run but personally think a capitalization of well over $4 billion is not justified at this stage. There is a lot of ‘prospective value’ built in that has not yet been realized. We are c hi urrently traveling as if we are selling 6% spod concentrate at $900 /tonne and we are not.
As the POSCO JV nears we should see $1.60 again…..
(Not financial advice …… just IMO ) .
PLS chart, page-1695
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Last
$2.84 |
Change
-0.130(4.38%) |
Mkt cap ! $8.550B | |||
| Open | High | Low | Value | Volume |
| $2.86 | $2.91 | $2.84 | $43.32M | 15.11M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 32 | 456378 | $2.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.85 | 101000 | 2 |
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| Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
| PLS (ASX) Chart |