Ann: Trading Halt, page-13

Why do companies go into a trading halt?

1) They are in possession of price-sensitive information (negative or positive) where there is a risk that that information could leak out into the public. This information usually arrives quickly (i.e. assay from laboratory, drilling visuals from night shift on the rig, etc.) and the company requires time to compile an announcement.

2) The company wants to create a buzz around some results recieved (even though there is little risk of leaking), so they unnecessarily enter a trading halt to get attention. Also, if the company stays in the trading halt long enough to get their shares suspended, all the buy and sell orders are wiped. When the shares finally come back into trading, no-one has a clue what price to trade at...

Even if the reason was a drilling delay, it wouldn't warrant a TH. My bet is drillcore visuals (perhaps from the second target) or some disastrous event like a cease and desist order for drilling or a fatality on the drill rig.

Honestly, no idea....