BCN 0.00% 2.6¢ beacon minerals limited

doubling the companies current value which isn't easy or quickI...

  1. 2,788 Posts.
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    doubling the companies current value which isn't easy or quick
    I don't agree.
    You may be familiar with the robinhood phenomenon in USA . It's dominated by a collection of at home day traders who are making big bucks by hunting in packs and pushing the price of target stocks to intra day highs of 100%+ of the previous close.
    Locally we witnessed the local phenomenon when small time gold explorer was pushed, on substantial volumes,from 2 cents to 5 cents in a single session on the strength of a renegotiated JV interest in a small time < 10,000 oz gold resource. Do please check out Trakka Resources.
    The key words in the earlier observation are 'gold' and 'substantial volume'.
    Were Beacon to announce - just hypothesizing now- another good production number for August or an encouraging drilling result the trigger for a day trader assault may well be pushed. Because there is no BCN significant shareholder to get in the way ( I'm excluding the 25% + of the share register connected with the board) a breach of say 4.0 cents for an outlay of $2m [ and most importantly under the substantial shareholder threshold) could easily see a race, same day, to the previous high of 5.2 cents.
    Now, as has been seen with Trakka the share price may retreat to the 3s as the day traders take their easy profits. But just as possible is the likelihood that BCN comes onto the screens of the professional investor ranks. It is they who re-examine the fundamentals and in short order - a few weeks - BCN achieves your fair value of 7 cents.
    See, doubling the companies current value which can be easy and quick.
 
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2.6¢
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Mkt cap ! $97.67M
Open High Low Value Volume
2.6¢ 2.6¢ 2.5¢ $26.10K 1.008M

Buyers (Bids)

No. Vol. Price($)
4 1354503 2.5¢
 

Sellers (Offers)

Price($) Vol. No.
2.6¢ 170096 1
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Last trade - 16.10pm 19/07/2024 (20 minute delay) ?
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