PLS hit a bit of a double top at 38 cents yesterday and I think a lot of traders bought knowing it would jump to 38 cents. As soon as it hit that level traders started taking profits knowing they will be likely able to buy back in at lower levels.
You also have the quarterly report due out this week and I would not be surprised to see somewhere between $10M -$20M cash burn for the quarter.
At best the production Revenue less Production cost will be breakeven/slight surplus and then you have the interest payments $4M/$6M, overheads $3M/$4M, Development/CAPEX $1M/$3M and debt repayment $8.9M
So I think there is a fair bit of profit taking going on as some punters are nervous about what the quarterly report might reveal.
PLS chart, page-213
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Last
$4.18 |
Change
0.120(2.96%) |
Mkt cap ! $12.58B | |||
| Open | High | Low | Value | Volume |
| $4.13 | $4.20 | $4.11 | $86.61M | 20.81M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 1408666 | $4.18 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.19 | 165878 | 22 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$4.18 |
Change
0.120 ( 3.20 %) |
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| Open | High | Low | Volume | ||
| $4.12 | $4.20 | $4.12 | 4580071 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| PLS (ASX) Chart |