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News: PRL Province Resources Seeks Trading Halt, page-5

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MSJ1985

117 Posts.

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17/02/23

10:02

Post #: 66303494
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Originally posted by camban: ↑

I am tempering my excitement just a little. The only thing I don’t like is that the halt is in relation to the term sheet. Which could still suggest (a) extension to it or (b) expiry of it (which occurs next week anyhow if no longform shareholders agreement has been reached). In both cases the trading halt legitimately buys them time over the weekend to do a phone around to try to shore up larger holders before an announcement comes out. This is of course the less likely scenario however, as there would be egg on their faces after yesterday’s Half Year Report language. If the halt was for a material update regarding “the joint venture” or “the shareholders agreement” I would be more excited and inclined to believe it had now been signed.

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Yeah the wording of the halt isn't directed towards a SHA being complete. It can't be a termination as their announcement only made yesterday noted the long form agreement was progressing. I believe an extension is on the cards, which I'm comfortable with.

PRL Price at posting: 5.4¢ Sentiment: Hold Disclosure: Held
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