I don't see a 'massive amount of shares' on sell side if VML hits 0.04 again?
There has been 30m shares transacted in last 7 trading days and currently there are approx. 10m on offer below 0.04 and 3m at 0.04.
Not a lot for a company with over 4 billion SOI.
So I just don't see any significant volume capping the price at 0.04 presently either on the ASX or Cboe exchanges (previously Chi-x). That could change, but it's not sitting there in the queue now.
I would say that 0.04 used to be strong support so it could offer some resistance going fwd but with some good news or revenue forecasts, or just more of a 'risk on' attitude in equity markets I would expect it to be smashed.
At the moment every company seems to be announcing a REE discovery pulling in punters but very few are anywhere near as advanced as VML.
Not to say it's a lay down misère for VML, there are still challenges and a harsh environment, but they are relatively very advanced. Most REE 'discoveries' stating apparently attractive grades are unlikely to ever be commercially viable in the near future. It is a really hard resource to extract, process, etc. It's not like simple minerals such as copper, etc. where generally a simple statement of grade has more meaning.
For any that don't believe commercialising a REE resource/business is very difficult, take a look at the history of Lynas.
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Last
0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $11.79M |
Open | High | Low | Value | Volume |
0.2¢ | 0.2¢ | 0.2¢ | $754 | 376.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
82 | 91250600 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.3¢ | 22788177 | 26 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
82 | 91250600 | 0.002 |
25 | 106031050 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 22788177 | 26 |
0.004 | 23979794 | 38 |
0.005 | 8552932 | 22 |
0.006 | 12402465 | 12 |
0.007 | 2803896 | 5 |
Last trade - 15.47pm 06/09/2024 (20 minute delay) ? |
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VML (ASX) Chart |