SRL 6.59% 42.5¢ sunrise energy metals limited

For the people who haven’t figured out what happened, it has...

  1. 331 Posts.
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    For the people who haven’t figured out what happened, it has always been clear as day for me, and the reason I bailed 80% immediately after reading the DFS, after holding the stock for 20 months, and thinking I’d hold thru 2022 at least. In February, the company announced the cost of building the mine was going way up, but that would be more than offset by increases in production. In May, the company put out an update that said they were targeting substantially increased metal production over the first 10 years, and that capacity was increased to 7ktpa cobalt and 25ktpa nickel. 2 months later in June, the DFS came out with these numbers for average production for years 2-11: 4.42ktpa cobalt and 19,620ktpa nickel. The CAPEX went thru the roof, and the promised production benefit was massively overstated. Kaboom, its been down hill ever since. For me, the discrepancy between 7ktpa cobalt and 4.4ktpa cobalt from may to june told me clear as day, the elevator is going down, get my money out for 95 cents, and I can buy these back at 60 cents if I want. Now that we're here, I don't see anything that tells me we are at a bottom, though their should be some support here, we'll see. I still hold my last 20%, and still watching things very carefully, not sure if I will sell or buy at a huge discount.
 
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Last
42.5¢
Change
-0.030(6.59%)
Mkt cap ! $38.34M
Open High Low Value Volume
43.0¢ 46.0¢ 42.5¢ $12.59K 28.67K

Buyers (Bids)

No. Vol. Price($)
1 997 42.5¢
 

Sellers (Offers)

Price($) Vol. No.
44.0¢ 85 1
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Last trade - 16.10pm 21/06/2024 (20 minute delay) ?
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