At the moment there is a situation of resource Funds getting large redemption's, and in some case shutting down all together (I have heard of 2 in the last 2 days). When this happens, the selling is indiscriminate and ruthless with no regard for valuation. We saw it happen last year on NXS when it got sold down well below fair value. Unfortunately for stocks the size of GRR and many similar companies, there is insufficient liquidity to absorb this selling and lets not kid - no one is interested in this sector at the moment. It does however provide opportunity, and I will be watching the quarterly carefully as to cash cost and margins. It is frustrating that this quarterly is not out yet as this further dampens interest from any buyers. Until then, best to not stand in the way.
Just my 2c worth
At the moment there is a situation of resource Funds getting...
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Last
35.0¢ |
Change
-0.010(2.78%) |
Mkt cap ! $405.0M | |||
| Open | High | Low | Value | Volume |
| 36.0¢ | 36.5¢ | 35.0¢ | $444.0K | 1.253M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9999 | 35.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 35.5¢ | 25524 | 2 |
View Market Depth
| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| GRR (ASX) Chart |