I agree with you that if it can break and hold 40C it should go higher but I think it needs a catalyst to do that.
What the company needs to demonstrate is that it has achieved the stage 1 nameplate annual production of 330,000 dmt, they did it at a low cost and they were able to sell it all to their partners at a reasonable price.
Then if they can come up with a valid plan to fund stage 2 the share price will react accordingly.
If they can't achieve those 4 things then the share price will eventually decline to a level that reflects the companies situation.
PLS chart, page-216
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Last
$2.79 |
Change
-0.090(3.13%) |
Mkt cap ! $8.401B | |||
| Open | High | Low | Value | Volume |
| $2.89 | $2.90 | $2.79 | $102.6M | 35.58M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 21 | 235238 | $2.79 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.80 | 2872088 | 2 |
View Market Depth
| Last trade - 16.10pm 20/09/2024 (20 minute delay) ? |
| PLS (ASX) Chart |