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31/03/16
08:22
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Originally posted by texasoil
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"My guesstimate of the situation is it's most likely not related to results, bit of FOMO on the open.
Leak also doesn't make sense also as if it was would have seen massive dumping on open, no one would have been waiting around for asx delay to end it would have been straight into the sell side on the open."
Agree 100% on the above Thunder. Looked like one larger punter wanted in early but with so many sitting on good profits over the last few days there was bound to be a few itchy fingers once the SP started to lose momentum. On top of that, some of the punters who got in very late may have simply got spooked and jumped ship. Most of the serious volume was still well above yesterdays SP so no conspiracy theory here.
Re the time lag on the Announcement this morning which I also thought was a bit odd at the time.
To announce here at 9.50am it has to be sent at 6.50am in Perth time. The fact that it was already written as "commencement of trading" indicates it had already been written the night before, so being sent late but not reworded indicates that it was sent on auto pilot (computer/fax)
The above also rules out the theory that the company had to issue the TH based on any ASX intervention which indicates the results should prove to be worthy of their TH. (If that assumption proves to be incorrect there will be an inquiry as the ASX would have had to be party to any other scenario!!)
Western Australia does not observe daylight saving ...... NSW does (although it's set to finish this weekend so a possible part of the issue) .............
Looks like a "clerical" miscalculation/error revolving around time zones/computers etc to me. Easy enough to do but all in all a little sloppy given the circumstances.
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Thanks Thunder. Well-observed!
Regardless of why etc, the fact remains (as it would appear) that the TH was intended by the co to apply at the start of trading. That's a relief really as it removes many questions emanating from concern or uncertainty. It strongly suggests that the results are worthwhile.
What a build-up! What a crescendo!
AUZ holders get hit with a CR whereas LSR has money in the bank and should be hot to trot once the news hits.