True. 8m shares is up there, especially for a no-news day. It has at times traded as much as 60m shares in days with news. The big difference is that the buy and sell depth was also much deeper a year ago - it took more shares to move the price a long way. Now both sides of the buy-sell are pretty thin, the market (or traders) have lost interest in this stock.
It definitely sucks that since I've been watching it for the last 4 years or so it's now lower despite what looks like consistently good news. You'd think the investment case would be building not failing.
So either the good news just isn't that good in the eyes of people who truly understand mining, feasibility and profitability or it's just symptomatic of a poor commodities market i.e. that even if Rox's resources are good and economic that they'll still struggle to attract equity or debt to fund any real mining activity... at least until the next mining boom and that could be some time away. Maybe it's a bit of both.
So maybe those of us who want to stick with the stock to see if they will one day dig something out of the ground should accept the fact that this is probably better as a short term trading stock for now - as several posters have suggested over the past months... but of course good traders also stay away from stocks with low volume so at the moment it's hard to see any catalyst for the share price - unless they come out with an amazing announcement, really amazing.
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Last
15.5¢ |
Change
0.005(3.33%) |
Mkt cap ! $57.48M |
Open | High | Low | Value | Volume |
15.0¢ | 15.5¢ | 15.0¢ | $43.87K | 287.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 496421 | 15.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
15.5¢ | 164433 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
13 | 6539315 | 0.008 |
15 | 12069642 | 0.007 |
5 | 2958583 | 0.006 |
5 | 3098180 | 0.005 |
3 | 1255003 | 0.004 |
Price($) | Vol. | No. |
---|---|---|
0.009 | 1924318 | 1 |
0.010 | 1406625 | 6 |
0.011 | 888479 | 5 |
0.012 | 621646 | 2 |
0.013 | 1000000 | 2 |
Last trade - 15.33pm 29/11/2024 (20 minute delay) ? |
RXL (ASX) Chart |