"Not sure if its just me but the price action recently stinks of a low ball take-over coming, I sincerely hope i am wrong."
There are no shortage of conspiracy theories regarding the fall in the ABM share price. The speculation on a takeover is frequently raised when the share price drops. I was holding Integra when the share price was repeatedly belted downwards, so it does happen.
However, to me the share price is just reflecting the fall in the price of gold.
The last few trading sessions have shown plenty of sellers pushing the share price down through the buyers lining up to buy.
Then gold spikes up to over US$1260 and the buyers flock in the sellers retreat. This is clearly shown in the trading this morning.
If the price of gold recovers, so with the share price! Simple as that...
An impending release on the results of the trial mining (assuming it's in line with expectations or better), and confirmation of the mining licence being granted will certainly help the recovery too.
It's a great time to be buying ABU...
"Not sure if its just me but the price action recently stinks of...
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $6.353M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $779 | 259.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 28 | 15823362 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 23487747 | 25 |
View Market Depth
| Last trade - 10.06am 12/07/2024 (20 minute delay) ? |
| PRX (ASX) Chart |