@HeathHedger .... "
And ASX wouldnt allow the stock to keep trading without a response to speculation"
Talk about misinformation... Every single stock on the ASX trades every day with all sorts of rumours floating around, all sorts of information about one aspect or another to do with future valuation, real information and misinformation.
They didn't have to do a TH to address anything, they could have included full disclosure about the project from the get go.
BTW, guess who predicted the following yesterday ..." I suspect a TH tomorrow morning".
Hint, it wasn't one of the usual rampers...
When companies have a huge gain or sell-off, out of the blue, they usually get a 'please explain' request from the ASX, which is most often answered by start of trade the next day, so this mob could have certainly addressed the market about the misinformation by this morning if they had wanted to.
There is no excuse for not releasing an announcement explaining everything by tomorrow morning, if they wanted to!!
Do you actually think they wanted to trade today, given the huge sell off yesterday, with the first tranche settling on Monday??
The first tranche can and is being done without any approval, if it goes ahead. The second tranche is subject to approval, it can't happen until approval, so is not relevant between now and Monday. It becomes relevant if passed at the EGM.
They had 2 separate 'proposed issue of securities' notices, one for the 12th August, the other for the 750M plus extras for 24th September.
Going into a TH, just 2 days after announcing what's supposedly a fantastic deal, only to have all the initial hype sold into, is a terrible look and usually a very bad sign (for the project). To blame it on " mis-information circulating in the market ", to me is just a poor excuse to stop the selling.
What are they going to claim was the misinformation??
The tailings dam doesn't exist?
The PEA's information is all wrong? (BTW there IS some poor work in there!!)
I wonder when it will occur to some of the holders that some larger shareholders have done their own due diligence and decided to sell while they still can, which actually explains the many millions of shares dumped into falling prices.
(20min delay)