Geez Snoopi - how long is a piece of string.There are so many...

Geez Snoopi - how long is a piece of string.

There are so many factors that might be at play here that it's impossible to give an estimate that has any basis in reality - although some will probably try.

Firstly, what was the reason for the trading halt? As hinted, is it simply to update on market activities or are there other aspects such as a possible placement as Salty has suggested.

More importantly in my mind, is the question of whether Nido was in control of this trading halt. By that I mean if they called it themselves because they are essentially ready to make some announcement, then the halt will be relatively short lived - maybe even lifted as early as this afternoon.

If on the other had the Halt came about because either they were queried by the ASX or felt that they were about to be queried, then the it means they were in some small way forced into this Halt and are therefore probably not ready to make the announcement just yet. As indicated by Lyns, they may still be waiting on one more signature on the Galoc documentation and if that is the case it is outside their control and may take days (or even weeks).

Regardless, if they do not make an announcment before the three days expires, then they will go into suspension and that generally has a negative effect on the shareprice.

As to how it will open up when the Halt is lifted, that depends not only on what is announced but more importantly how the market sees it. If they think it is worth it, the price will rise, if not it will fall. Nothing too complicated about that.

Cheers

Badfish