No one is going to bother opening any new mines with the spot price in the 20's.
RIO has lost total interest in the sector.
They wouldn't even consider having another look at it until the spot price gets to at least $75 - potentially a lot more. This is why it's curtains for poor little embattled ERA - no hope with no support from the major shareholder. Accumulating a half billion in losses every year, before they eventually go bust. I feel for the employees affected, but at least they have a clear path to redundancy now.
The spot price needs to triple to maintain current interest, let alone generate any new interest.
Summit & PDN, page-459
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Last
$11.55 |
Change
-0.190(1.62%) |
Mkt cap ! $3.454B | |||
| Open | High | Low | Value | Volume |
| $11.94 | $11.94 | $11.32 | $50.18M | 4.349M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 337 | $11.53 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.57 | 45691 | 2 |
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| Last trade - 16.10pm 30/09/2024 (20 minute delay) ? |
| PDN (ASX) Chart |