There are triple anchors holding the SP down at the moment:
1: Fertiliser prices and hence RP price in the doldrums
2: Strong Aussie dollar. At US56c to the dollar even a RP price of $US90 makes this look pretty attractive when mining costs are largely in Aussie dollars. With the dollar threatening parity with the US dollar a RP price closer to $150 and above would likely be needed.
3: HUGE Post SPP hangover. Given much of the turnover in a stock like MAK is trading churn I suspect that most of those sell order sitting north of the current SP are hangover and I'll bet there are plenty more sitting on the sidelines waiting to sell into a decent rally. Just the suspicion that there are lots of sellers waiting out there will lead potential buyers to hold out for a lower price.
Sounds strange, but as with Gold - a bit of a retreat in the market (that usually hurts the aussie dollar and hence improves viability) would probably be the best thing for MAK.
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Change
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Mkt cap ! $29.74M |
Open | High | Low | Value | Volume |
1.1¢ | 1.1¢ | 1.1¢ | $3.85K | 350K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 1110857 | 1.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.2¢ | 2543249 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 1110857 | 0.011 |
7 | 5834004 | 0.010 |
7 | 5859333 | 0.009 |
6 | 3404999 | 0.008 |
2 | 2400000 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.012 | 2543249 | 6 |
0.013 | 1160857 | 5 |
0.014 | 1560000 | 2 |
0.015 | 2190146 | 5 |
0.016 | 8119577 | 9 |
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