Let's imagine the worst case scenario:
- 2 more significant holes at Grants
- Another Lithium discovery at another prospect
- Around 1.5 times the placement shares traded (approx 100m shares) since placement at over 20% of the placement price (no more CR cloud with $6m and $2.5m virtually certain)
- delayed assays (management say we will see them in the next 2 days)
- Grades are less than current reported grades
Now let's think of the positives:
- more pegmatite discoveries will mean more scale
- drilling continuing at other prospects until late Nov 2016
- diamond drilling program imminent
- new prospect drilling programs imminent
- higher graded assays possible as well as more depth and width and strike length
- institutional buying (clearly happening around 11 cents)
- low market capitalisation (30 cents would be an EV of less than $100m). KDR is valued at almost 6 times the current CXO value may have more lithium based on potential released
- assays due this week
- many more assays until late Dec 2016
- plenty more drilling and potential for discoveries
I could keep going but it seems like a no brainer to average up. I would be very surprised if 15 cents isn't hit by the end of this week. 30 cents is highly possible.
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Last
9.3¢ |
Change
0.001(1.09%) |
Mkt cap ! $198.7M |
Open | High | Low | Value | Volume |
9.4¢ | 9.7¢ | 9.2¢ | $1.476M | 15.69M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 608015 | 9.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
9.4¢ | 219105 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
8 | 608015 | 0.092 |
31 | 2405503 | 0.091 |
60 | 3313927 | 0.090 |
15 | 1139919 | 0.089 |
17 | 1200855 | 0.088 |
Price($) | Vol. | No. |
---|---|---|
0.094 | 219105 | 1 |
0.095 | 342337 | 6 |
0.096 | 408392 | 8 |
0.097 | 1039902 | 11 |
0.098 | 1113025 | 12 |
Last trade - 16.10pm 14/08/2024 (20 minute delay) ? |
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