This is a massive reduction in CDIs listed on the ASX from around 23.5m to now only 6.4m, ie only a bit over 3% of all SSR securities are now trading on the ASX. I can not see SSR staying listed on the ASX given compliance costs and how illiquid the shares trade, so I am expecting an announcement sometime this year to delist and transfer the CDIs as shares on the TSX.
In the absence of this issue perhaps SSR has some value for longer term investors willing to wait as they undergo their major capex over the next 4-5 years or the gold price does a runner. I am suprised the share price keeps falling on the TSX - I thought a major part of the selldown was end of year tax loss selling but the market has lost interest for now in SSR (and many other overseas goldies).
GLA.
loki
SSR Price at posting:
$15.26 Sentiment: None Disclosure: Not Held
