If the star tribune article is the proximate cause of the move, then it's a pretty poor reason. There are two main concerns in it:
1) sovereign default.
The currency and bonds of moz weakened in April. Their US dollar denominated debt is yielding 18% already and didn't move today. Even if the country's currency does collapse, this lowers SYR's costs. Confer Orecobre when Argentina devalued.
2) Civil war
No news source I can find shows any escalation beyond what has been going on since 2013.
I don't really have a view on the long term merits of the balama project, however it does seem to have been somewhat derisked recently by the cap raise and the offtake with marubeni.
Assuming tolga isn't selling to buy his mum another house, then this move looks like soneone has got stuck in on a non-story. I've picked up a few.
Traders shifting., page-47
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Last
40.0¢ |
Change
0.005(1.27%) |
Mkt cap ! $413.9M | |||
| Open | High | Low | Value | Volume |
| 40.5¢ | 41.5¢ | 39.5¢ | $1.869M | 4.642M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 212814 | 39.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 40.0¢ | 29159 | 3 |
View Market Depth
| Last trade - 16.10pm 13/06/2024 (20 minute delay) ? |
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Last
39.5¢ |
Change
0.005 ( 2.57 %) |
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| Open | High | Low | Volume | ||
| 40.8¢ | 41.0¢ | 39.5¢ | 3727359 | ||
| Last updated 15.59pm 13/06/2024 ? | |||||
| SYR (ASX) Chart |