This is harder than waiting for a new episode of game of thrones.
Big day tomorrow - I'm tipping we get an explanation of what is going on, but perhaps no resolution yet, with further time required to determine the details of the DSO shipments and agree the levies which the Mali gov are requesting.
I presume we will likely stay in suspension until this is resolved as management know that to resume trading with this unresolved will result in the shareprice copping a hammering.
Given the drama, and the nervous holders making totally uncalled for comparisons with AVZ / FFX etc, it is likely that even a solid positive outcome is going to see this being sold off hard as people run for the exits to bank whatever profit they have due to the fact this has shown the sovereign risk of this stock is real, and everyone's worst fears of a sudden trading suspension coming out of left field just as things were looking extremely rosey have come true.
Imo this will be yet another example of the sharemarket transferring wealth from the patient and informed (who have DYOR), to the impatient and uniformed (minimal DYOR) but amplified by the risk/reward appetite at play with this.
The bottom line is Mali and Gangfeng (i.e. China) need this project to go ahead more than anyone, and no one benefits from it being derailed whatsoever.
If we do resume trading tomorrow and the announcement is a positive one - holders will do well to consider this and read it thoroughly before bolting for the sell button.
Not for the faint hearted and don't invest money you can't afford to lose.
- Forums
- ASX - By Stock
- LLL
- Ann: Suspension from Quotation
Ann: Suspension from Quotation, page-261
-
-
- There are more pages in this discussion • 51 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LLL (ASX) to my watchlist
|
|||||
Last
50.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $605.0M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Featured News
LLL (ASX) Chart |
Day chart unavailable