Actually the writing was on the wall when Rock Phosphate prices started dropping around August last year. See below chart.
There also appears to have been a bit of a pump late August - for the smart money to exit(?).
In any case, the correlation to rock phosphate prices is obvious. This week's mini spike appears to be caused by early signs of price recovery (up US$4 from $94 to $98, source: marketrealist.com). This has been the first time prices have risen since September 2015, so not an insignificant move.
The Chinese continue to slow down production, in fact, exports are down 20% compared to a year ago (source: croplife.com) so prices should continue to recover. Some chinese producers have shut down all together as a result of environmental audits.
Make no mistake, the short term fate of Avenira is tied directly to these price movements. No amount of bagging the company, its directors, or posters on HC is going to change that.
Volume Increase, page-18
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Last
1.1¢ |
Change
-0.001(8.33%) |
Mkt cap ! $29.74M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.2¢ | 1.1¢ | $19.80K | 1.774M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 1796544 | 1.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.2¢ | 1000000 | 1 |
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| Last trade - 15.01pm 06/09/2024 (20 minute delay) ? |
| AEV (ASX) Chart |