Why do people have to take such negative views all the time.It is not unusual for a company to ask for an extension of a trading halt. CLI requested the trading halt in the first place so that they could provide the market with a "harvesting" update. CLI have asked the ASX for an extension of the trading halt for the very same reason, ie a "harvesting update".So nothing has changed.
For some to suggest that the ASX were not happy with CLI's response to the initial suspension is ridiculous.
If that were the case,it would not be CLI requesting an extension,it would be the ASX imposing a "trading suspended" notice on CLI with possible more serious consequences.
While no one really knows the reason for CLI seeking an extension,the one thing we do know,is that it is still about a "harvesting update"
My somewhat optimistic outlook is,that,they will provide an update on what exactly is going on,what has been sold, how much cash has been received,etc etc etc.The reason for the delay IMO is possibly because they have been negotiating something else which they anticipated would have been completed by now but is taking a bit longer,hence the extension.
This outstanding matter is obviously tied into the harvest update so it would be prudent to wait and include all info in the report.
All IMO and not advice.
CLI Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
