If you look at the number of shares traded on the TSX, you will...

If you look at the number of shares traded on the TSX, you will notice a huge difference in quantities between them and the Australian exchange.
Yesterday LIO.v ( Canadian exchange) traded 257,136 shares. Price closed at c$1.74. The M/C is c$205 million.
Yesterday LLO asx traded only 17.69k shares. The price closed at $1.91. The Market Cap in Australian dollars is $225.4million.
Looking at the M/C of both exchanges, it shows that the Canadian currency is stronger than the Australian dollar.
That's about $20 million dollars difference between the two exchanges. That is about 10% difference which is in the Canadian currecy/exchange's favour.
Add $1.74 x 10% = $0.174 That adds up to $1.914. About the same! But I agree it wasn't always like that.
How ever the big factor is the amount of shares traded in Toronto, which has about 15 times more on a daily basis.
The shares in Australia are tightly held and I suspect the allocation of shares here in Australia was substantially less than in Canada, but I haven't looked into it.
Hope that helps.
looking forward to some drilling results. .