Trading halts are required when the company thinks there is a risk that news might leak into the public domain before they can make an official announcement to the market via ASX; potentially meaning that some people would have an unfair advantage (i.e. sell or buy shares before all have the same opportunity to do so).
One can only speculate how this applies to LCK for this trading halt, but for example, if the Minister's office had verbally advised LCK that the minister had signed the approval and LCK will get official documents "soon", the company might prudently decide to call a TH.
My theory is that the Minister (or even the Premier) wants to call a press conference to make the announcement and has requested that LCK hold off releasing the announcement until a slot comes-up in the minister's schedule and the govt media people can complete drafting a release/speech etc. , issue invites to the media launch etc. - if I am right then we should get an announcement this afternoon.
The reason for the minister wanting to announce it might be for several reasons...
1. Good news story
2. Manage public concerns particularly in light of the South East moratorium on fracking and/or potential comparison to the Linc Energy Queensland debacle.
I could be wrong.
IMO
DYOR
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Last
0.3¢ |
Change
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Mkt cap ! $6.543M |
Open | High | Low | Value | Volume |
0.3¢ | 0.4¢ | 0.3¢ | $3.668K | 1.137M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
19 | 34688881 | 0.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.4¢ | 34185751 | 17 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
17 | 29188881 | 0.003 |
48 | 97139103 | 0.002 |
21 | 100805000 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.004 | 33765751 | 15 |
0.005 | 12743103 | 19 |
0.006 | 4706835 | 8 |
0.007 | 641000 | 1 |
0.009 | 700000 | 2 |
Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
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