The Element 25 Ltd (ASX: E25) share price crashed even as it posted an upbeat update on the ASX.
Shares in the emerging manganese miner tanked over 10% to $1.31 in the last hour of trade. The sell-off comes despite this being a positive day for miners.
Element 25 share price takes a hit
Element 25 provided an update to its Pre-Feasibility Study (PFS) that was released in May. The miner added “expansion case options” which indicated that its Butcherbird project could be worth as much as $1.1 billion on a pre-tax basis.
This compares to its base case net…