OK - so all the longer term holders, having bought in at varying prices from low (ages ago) to high (in the last year or two) have been waiting for the magical TOL to be issued.
Now, with all the hurdles overcome, and with well over 10% of the company's shares still being held short, what do we see?
The ridiculous situation where the price is going NOWHERE...!
We have the formality of the paper TOL in the hand outstanding - but that is all. We have containers full or concentrate sitting at Fremantle waiting to go. We have the appeal by the "locals" being refused, and we have the PSC report accepted last night.
And where does the price go? NOWHERE.
It has been - and still is - shorted and sold down. Some is presumably "profit taking" by the very short term traders, while who knows why others are selling in such volumes? Or still shorting it down?
Will this change when the paper is on Nick Curtis's desk? Going on the current form and the way the price is being pushed - I'd say that the price is likely to go NOWHERE.
As the heading suggests - this would appear to be completely RIDICULOUS...!
What is it going to take to turn this around, and get the share price up to fair value? Or where it was when it was just expectation and anticipation?
The reality is proving to be plainly ridiculous...!
ridiculous
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Last
$7.88 |
Change
-0.210(2.60%) |
Mkt cap ! $7.365B | |||
| Open | High | Low | Value | Volume |
| $8.03 | $8.03 | $7.84 | $18.89M | 2.393M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2122 | $7.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.89 | 19791 | 5 |
View Market Depth
| Last trade - 16.10pm 11/11/2024 (20 minute delay) ? |
| LYC (ASX) Chart |