”Everyone says..” They are wrong mate, simple as that. ASX...

”Everyone says..”

They are wrong mate, simple as that. ASX disclosure rules are there to protect shareholders and ensure a fair (as can be) market. Absolutely there could be a development or discovery announced via media or rumoured from the field during the weekend. If that occurs, disclosure to the market is required prior to opening. If the team can’t get the information together into a formal disclosure prior to opening, they are obligated to place it into trading halt, until they are ready to do so. They then have a max of three days to give the notice (or any time prior) or they are then required to suspend trading on the stock. Suspension wipes all orders so they sometimes use this to their advantage.

It’s all in place to protect shareholders and no one is disadvantaged as long as trading is not occurring when some ‘may’ know more than others. That’s why they even have the 20mins reading time as Pre-NR post an announcement dropping when in open market, giving everyone a reasonable chance to digest the information.

They don’t need a trading halt to announce a discovery, but they would be best placed to give the market and media a chance to absorb such market sensitive news. If they do drop it into the market during trading hours, it’s badly played imo but sometimes it just happens that way.

I agree that if we have a sample at surface, it’s one for the president to announce given its Zimbabwe. If he can’t get there till tomorrow, they will halt with no harm done. The president will very likely get first bragging rights, we are in their country after all.

All eyes are on his movements today for some early indication.