Agree makes little sense. If the company had convertible notes outstanding you could put it down to some form of arbitrage being played out. Why short a company which is trading at a deep discount to its cash backing and has a good Cu asset. The price of Cu could change for unexpected reasons and sentiment would shift against your short position pretty quickly.
I do love conspiracy theories. Maybe some one is holding the VWAP low. Take over at 100% of VWAP makes a headline. Still you would have to think the expert reports would have to reject 25cents a share based on the cash and value of assets. But you who can you trust in this world now a days.
Eshmun
Short Seller ABout, page-7
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Last
46.0¢ |
Change
0.010(2.22%) |
Mkt cap ! $262.6M | |||
| Open | High | Low | Value | Volume |
| 44.5¢ | 46.0¢ | 44.5¢ | $323.9K | 711.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2150 | 45.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 46.0¢ | 29414 | 5 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| A1M (ASX) Chart |