I'm surprised no-one's already said it, but I think Karoon simply wanted to arrest the SP slide. Not good for share holders (esp if you're facing margin calls) & not good for the net worth of the company.
In regard to their current drilling progress, I believe the Browse program is falling into place nicely. As far as short term SP, I can only HOPE.
reason for trading halt
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Last
$1.77 |
Change
-0.005(0.28%) |
Mkt cap ! $1.420B | |||
| Open | High | Low | Value | Volume |
| $1.79 | $1.80 | $1.76 | $6.200M | 3.491M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8844 | $1.77 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.78 | 45424 | 1 |
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| Last trade - 16.10pm 14/08/2024 (20 minute delay) ? |
| KAR (ASX) Chart |