The reason why we went into a trading halt are quite obvious to me. The company has a continuous disclosure obligation. It's JV partner of this gold project released an announcement without providing ADN with any prior warning it would appear. The JV partner has advised ADN that it now claims a 50% interest in the JV under the earn-in agreement. I see that as a the major news that would require disclosure to the market; that the JV partner advises they have earned-in a 50% interest.
I further suspect that ADN have had to wait until after the weekend to go through the details with the London based JV partner to satisfy themselves of the facts before releasing the news to market.
I like a company that takes its governance obligations seriously and manages them competently.
Ann: Significant High Grade Gold Intercepted at Wudinna, page-21
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2.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $68.42M | |||
| Open | High | Low | Value | Volume |
| 2.2¢ | 2.3¢ | 2.1¢ | $73.39K | 3.354M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 1285067 | 2.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.2¢ | 348912 | 1 |
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| Last trade - 16.10pm 24/07/2024 (20 minute delay) ? |
| ADN (ASX) Chart |