The resources shares were sold off today.
At last check tonight the Gold price went down $US16.13 to $US985.67.
PRU shares fell to 66 cents wiping out a lot of buyers and buying support.
I think people are in preparation mode to exercise their options due at the end of March 2009. Therefore they are selling the shares to raise capital to exercise their options.Probably more selling to come then as some are a bit slow.
I guess that there will be considerable cash burn going on while the feasibility studies are in progress.
If PRU is suddenly using a new overseas broker with a new assement then I wonder if a capital raising is imminent ?
Apparently the new broker has concerns about the cash burn at this time.
shares going down
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Last
$2.41 |
Change
0.080(3.43%) |
Mkt cap ! $3.315B | |||
| Open | High | Low | Value | Volume |
| $2.40 | $2.42 | $2.35 | $7.956M | 3.332M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 67667 | $2.38 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.41 | 68938 | 4 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| PRU (ASX) Chart |