I can see a few possible reasons for the decimated share price.
1) The drill sounds like its 12 months away so market thinks theres easier and quicker money to be made elsewhere right now and will come back at the sniff of a move up
2) To fund their costs, PCL will have to do a CR which would normally be at a discount to the current share price. Why not sell some of your holding now and pick up some in CR later?
3) With a sniff of a CR, smart traders, Algos, instos will play games based on point 2 above
Cheers
I can see a few possible reasons for the decimated share...
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Last
1.7¢ |
Change
0.002(13.3%) |
Mkt cap ! $138.2M | |||
| Open | High | Low | Value | Volume |
| 1.6¢ | 1.7¢ | 1.5¢ | $101.8K | 6.301M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 5787325 | 1.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.7¢ | 5350072 | 5 |
View Market Depth
| Last trade - 16.10pm 19/08/2024 (20 minute delay) ? |
| PCL (ASX) Chart |