big seller, page-2

In the short term everything is stacked against ORE re-rating until Canadian listing is bedded down.

A number of Canadian investors would have bought ORE on ASX and may now look to sell down and 'swap' for shares in new placement. Obviously the lower the share price is kep on ASX the lower the likely placement price in Canada (good for ALL new Canadian clients not just existing holders). The sensible thing for these Canadians to do is sell down on ASX now so that:
a) lowest price is set in placement
b) funds are raised to pay for placement at same time and price thus eliminating and 'holding risk' during transfer.

At the same time the ASX is full of holders uncertain about placement price, dilution, talk of 60 projects too many being developed, consolidation needed and all sitting on massive profits or worried that they bought too high as the price falls over. Certainly some short-term headwinds with this grand new plan to overcome. Without the new Canadian listing leading the way with higher prices it is hard to see where the buying support in Oz is going to come from?

goodluck