Another way to look at it is that the JORC announcement proved that FMS's exploration targets were almost exactly what the JORC figures were.
The announcement was not a suprise. There was no new iron ore found, it was pretty much close to what FMS was saying they had all along.
So based on that, the share price shouldn't have moved at all. People were prepared to pay 7c last week because they thought FMS had X mt tones of ore. Now that it's proven they have that amount, why would the price change?
what a difference a week makes, page-9
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Last
88.5¢ |
Change
0.015(1.72%) |
Mkt cap ! $176.8M | |||
| Open | High | Low | Value | Volume |
| 89.0¢ | 89.0¢ | 88.5¢ | $3.122K | 3.515K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1704 | 88.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 89.0¢ | 2369 | 1 |
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| Last trade - 12.53pm 17/06/2024 (20 minute delay) ? |
| RHK (ASX) Chart |
