Market is spooked by worsening China manufacturing data. Copper fell hard today on firm volume. Next support is 18 September low of 5855.
Crumbling equity markets, tariff uncertainties, China slowdown & deadlock in Washington are all coalescing to create an extremely bad macro enviro for copper.
Its literally the worst possible time to be facing a cap raise. Dilution at these prices could lock in our losses (we’re at a 52w low so I assume pretty much everyone here is deep in the red?)
Anyone speak to mgmt recently? @JID I’ve heard people on HC refering to some sort of ‘strategic’ placement. Not sure what this means exactly but it sounds dilutive
MOD Price at posting:
24.0¢ Sentiment: None Disclosure: Held