To find8's points:
This company has proven nothing and perpetually disappoints. The dumping is not irrational given the imminent Qrtly which will disappoint many with its low production.
CTO has $15m of convertible note debt secured against $30m of its assets.
We don't know that it's all happening and "just a matter of time". Nor is it known that it will achieve 100 ozs of production. The reality of meaningful production, where cash inflow meets all costs, is a complete unknown with this company.
I was about to post that I'd give the price a good chance of holding at about 20c. There's strong recent support there on the weekly chart. I see that it's gone straight through to 18c, lol. If it can recover a bit and 18c was the low then it will still not have put in a lower weekly low. That is, uptrend intact so far.
To find8's points:This company has proven nothing and...
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Last
0.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $13.5M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.5¢ | 0.4¢ | $817 | 193.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 14410520 | 0.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 5424820 | 10 |
View Market Depth
| Last trade - 12.11pm 05/07/2024 (20 minute delay) ? |
| CTO (ASX) Chart |