Ann: Halleck Creek Assay Results Update, page-12

The ADRs are the underlying shares that will be listed on NASDAQ. The more ADRs that exist results in better outcomes for (NASDAQ SP/MC) once we're listed. There's also currency conversion benefits of north of 50% in the coming years and psychologically on the American side as $1 USD is currently worth around $0.63c AUD and will fall to new lows over coming years and remain below 50c as the new norm. Quite unfortunate for the AUD but the situation is what it is. Long term there's also the inevitability of delisting off the ASX IMO some time in 2025. However, in the near term the fewer ADRs that exist the fewer the supply, which puts upward pressure on (non ordinary ADR prices pre/post NASDAQ). A backlog of ASX ordinary holders lining up to convert to ADRs in the lead up to NASDAQ or post listing could have potentially negative financial implications for fully ordinary holders. This would be especially true if the primary listing became NASDAQ indirectly through ASX ordinary holders converting to ADRs.

It's highly likely ordinary ASX holders will jump ship over the next 18 months give or take, leaving ASX holders open to volatile price movements ARRNF and AMRRY go through on little volume, only compounded with the state actor bots. IMO Time will tell as to whether ASX holders board the NASDAQ ship making it the primary listing and not ARR. Why merely ride on the coattails of NASDAQ when you can be a holder of ADRs before we're even listed. Then theres the inevitability of the eventual delisting of ARR from the ASX and all holders of ASX ordinary shares being automatically converted to ADRs/NASDAQ. Either management and BOD, or the market will decide, but the outcome will be NASDAQ.

The company website (INVESTORS & ADR section) provides all ordinary ASX holders the necessary information to convert to being NASDAQ holders now, to be blunt. I've stated in a previous post I've heard nobody on HC talk about this and that I am considering a 50/50 split. (Likely sooner rather than later, before jumping fully in after Q1 or before NASDAQ listing goes live). I've only heard of Mel in an interview from some time ago talk about ordinary holders wishing to convert to ADRs can now do so, or something to that effect. Yes, it's 50 ordinary to 1 ADR perhaps it's a psychological thing holding back anyone from even discussing this? Look at the price of Class A Berkshire Hathaway stock it's north of $545,000 a piece. The pie is the same size, it's just not a meat pie but an American pie.

Why is nobody wanting to discuss this? Everyone is seemingly content merely riding the coattails of NASDAQ as sheep, is a head scratcher for me. I'm referring to almost everyone, certainly the regular posters who are LT holders. No offence to those who remain silent or find the whole thing confusing either! A dedicated thread and community discussion on this is warranted period.

Ashcourt104 Your profile pic is that of a rooster, first to wake! Maybe, your courage to ask questions on this issue first, will be the launchpad for the forum to begin discussing this and not as I put it be "content with riding the coattails of NASDAQ as sheep, while remaining ordinary ASX holders."