Ann: Suspension from Quotation - Listing Rule 17.3, page-88

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WoodySpoon

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03/10/23

13:29

Post #: 70147555
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Originally posted by Red Baron: ↑

The ASX (and ASIC) are a spineless bunch of wowsers, I won’t say what I really think. Few who work in the industry or have invested for a considerable period of time would disagree with me.

Here we have a situation where Leo wants to extend it’s voluntary suspension, and the asx with a big stick (joke) says no you can’t do that we are going to put you in compulsory suspension. Wow that showed us - look how big & powerful they are. End result exactly the same - we’ll come out of suspension when these issues have clarity. All the ASX is doing is keeping the honest people honest, maybe they should direct some of their attention to FFX - no that’s too hard - put that in the too hard basket.

This suspension is simply about Leo wanting resolution/clarity over various issues (that have been discussed to death) and they don’t want the shares trading while there is uncertainty/unknowns.

IMO that is the right thing to do, I understand & respect other people’s points of view where they think we should be trading while this is resolved.

As for those saying it’s the same as AVZ - all I’ll say is they’re not the sharpest tools in the shed. Unfortunately the smell of any blood on the street brings out all the low lifes.

The most important thing is Goulamina is still under construction on schedule & on budget. Don’t let small things cloud the big picture.

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I don't think you can say what the issue the ASX has with LLL atm.
If we had the exact clause within 17.3 they were relying on to suspend we could make a far more accurate guess as to the reason.

So far various people are assuming:
1. It's because LLL weren't coming out of suspension today.
2. It's because LLL were coming out of suspension today.
3. It's unrelated to the current suspension and related to coming out of the last one.

We'll know more when the company replies to the ASX's questions this week. Probably at their lawyers office today getting the wording sorted. Until we get that announcement it's all just speculation.

LLL Price at posting: 50.5¢ Sentiment: Buy Disclosure: Held
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