If over 50% of Cornerstone goes to a major like BHP then it would render a strong negotiating position to gain control of Cascabel.
Solg may be happy to sell Cascabel giving it a huge pile of cash for bringing other targets up to speed and returning cash to shareholders like DGR.
There are many permutations that can play out.
Over the past month I have tested the market in DGR. Both times I have put in a small buy order at the selling price. It has been immediately followed by a tiny sale at the buy price. Last week I bought 5000 at 0.145 on my online account. Within minutes a parcel for 1500 sold at 0.14. Who sells 1500 shares for $210?? This confirms my belief that the price is being held around 0.14 which compares to my NTA of 0.41. .
It isn't surprising the share can be held down when even optimistic posters on HC believe they will be blessed if the price were to get to 0.16-0.20. As NM and our chairman have said DGR should trade at a premium to NTA. ie 0.50-1.00.
Ill share a story about a coy I was a top 20 shareholder in years ago. Pacmag was a subsidiary of Giralia in which I was also a top 20 shareholder in and over a 10 bagger for me.
Pacmag was languishing at 0.03 cents. They had a proven copper resource at Anne Mason in Nevada of 7.5 billion pounds of Cu with Au and Mo credits. The market for Pacmag had virtually discounted this resource to zero. I phoned the CEO several times and asked what was I missing. He said the market had got the coy spectacularly wrong.
I hung up after the last conversation. Swallowed an ultra black coffee. Opened Etrade and started buying at 0.03. A month later they were at 0.33 and were subject to a takeover by Entree in which I still hold a portion of my scrip swapped for shares. It was a cash and scrip offer. Entrée holds land around the Oyu Tolgoi mine in Mongolia which is one of the top Cu/Au discoveries of the last 50 years. It has been mentioned by informed posters like SOL1.
Incidentally after got to 1.1 million shares at 0.03 the buyers poured in over the top of me and the price took off. I had wanted 2 million shares but never chased it up.
Waiken
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If over 50% of Cornerstone goes to a major like BHP then it...
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Last
1.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $14.61M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 4779886 | 0.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.0¢ | 77788 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 28219 | 0.130 |
3 | 250000 | 0.125 |
3 | 1020491 | 0.120 |
1 | 500000 | 0.115 |
3 | 99220 | 0.105 |
Price($) | Vol. | No. |
---|---|---|
0.135 | 65000 | 1 |
0.140 | 393111 | 1 |
0.145 | 295471 | 3 |
0.150 | 95000 | 2 |
0.160 | 47375 | 3 |
Last trade - 10.02am 04/12/2024 (20 minute delay) ? |
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DGR (ASX) Chart |
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