The shorters are all over this because the current price environment would have LTR producing at a loss with debt for the ramp up phase. That is not a situation you want to be in.
The attack here is not personal. CXO has set the scene (even though LTR has far far better operation and resource metrics) that a low price environment is not good for starting new operations.
Throw in the outstanding finance, ASX100 removal (60m up for grabs to close) and the EOFY selling and you have a perfect storm.
They are abusing that.
LTR is cheap at theses levels but it could go lower. I am happy to wait out for top ups end June. As no doubt are many others.
PLS also heavy on shorts and they are also back to near 52 week lows. Most there are in coin as they are here. Maybe 30m here at most out of money, but if they have multiple contracts as a whole in coin IMO
The shorters are all over this because the current price...
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Last
83.5¢ |
Change
0.020(2.45%) |
Mkt cap ! $2.024B | |||
| Open | High | Low | Value | Volume |
| 82.0¢ | 85.0¢ | 81.5¢ | $9.483M | 11.34M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 31655 | 83.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 83.5¢ | 60687 | 8 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| LTR (ASX) Chart |