First mover advantage, page-80

@The Dean, If I remember correctly, BRCHF received approval to trade on the OTCQX market in April 2021. It was previously trading on the USOTC (considered penny stock, unlike OTCQX listings) under the symbol AZKLF (Aziana Limited). I was only able to find data going back as far as April 2018. The earliest announcement I can find on ASX for BRN was back in 2015 as you noted.

Both AZKLF and BRCHF were available on my trading platform in the US (Fidelity), only I had to pay a flat USD 50.00 fee with every trade, so I had to make sure I purchased large quantities at a time. The BCHPY ADR was made available on OTCQX in November 2021 and while they do not have an up-front fee to purchase, one does not own the underlying shares.

While I did not have first-mover access, I was fortunate enough to purchase AZKLF at a low price since it was considered a penny stock. Being highly speculative, there were probably not a lot of US investors buying it. I think the BCHPY ADRs aren't being scrutinized too closely yet since the paint is still wet.

I did pick up some shares of BCHPY as I intend to hold them as short-term investment savings (just a little over a year --I consider long-term to be 5 to 10 years). However, holding them after a year offers the lowest capital gains tax at my income level.