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4.4¢ strike resources limited

Except Atlas iron was heavily indebted.... Strike's balance...

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Artvandelay01

2,651 Posts.

407

19/08/21

23:40

Post #: 55429773
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Originally posted by Nolan78: ↑

The problem I see with this stock is they are so similar to what happened with atlas iron.
Atlas iron shot up past $4 a share then the iron ore price fell hard and they were selling at a loss then
they were gone soon after.

This stock can only be seen as a short term investment due to the iron ore price.
15 months ago the IO price was $60US/T and that is just as likely to happen again
in the coming months to a year or so and that is when this company will be in strife.

Super cycles happen once every 13 to 17 years. The last one was 2007 and did not last that long
and now we are coming out of a super cycle and iron ore prices are falling to I suspect about $120US/T or lower
by years end. The next year might see it fall harder to $60US/T

So this can only be seen as a short term investment. Maybe the stock will hit $1 and that would be bail time.
They will need to get their cost price down to about $25US/T.

FMG cost price in the early days was about $60US/T then they drove it down hard when the iron ore price fell but atlas
couldn't do that and they soon disappeared.

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Except Atlas iron was heavily indebted.... Strike's balance sheet is actually pretty health. Big difference.

SRK Price at posting: 20.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 4.4¢		Change 0.000(0.00%)		Mkt cap ! $12.48M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
1	99818	4.6¢

Sellers (Offers)

Price($)	Vol.	No.
4.5¢	40000	1

View Market Depth

No.	Vol.	Price($)
1	99818	0.046
1	20000	0.045
1	20000	0.044
3	235280	0.041
1	12500	0.040

Price($)	Vol.	No.
0.045	40000	1
0.049	2022	1
0.050	32700	2
0.052	11000	1
0.053	193125	2

Last trade - 16.12pm 30/04/2024 (20 minute delay)

SRK (ASX) Chart

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