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Ann: Suspension from Official Quotation, page-5

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builda

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20/06/18

16:55

Post #: 33833517
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Originally posted by Ooogerbooger ↑

Trading halts typically are 48 hrs. But this is not a trading halt, it's a suspension. And it's not voluntary, it has been imposed by the ASX under listing rule 17.3: https://www.asx.com.au/documents/rules/Chapter17.pdf

That's the rule whereby e.g. mining companies get temporarily suspended for not producing their quarterly cash flows by the required date. But that doesn't apply here. I note that the ASX notice specifically says the suspension is in relation to a pending "announcement in relation to the Woodlark project".

So there has been some sudden development in relation to Woodlark. So sudden, that the ASX had to move without getting a formal written request from GPR? But I thought the company could request a trading halt over the phone anyway, so I don't think that explanation works. So did the ASX gets its info from a third party? Or from the news - has there been a coup in PNG??

Interestingly, the ASX has not suspended Kula Gold. Which makes no sense at all.

Executive summary: I have no idea.

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This is new to me too. I haven't seen a suspension before which wasn't preceded by a TH unless it was a breach of listing requirements as you note. Yesterday it was only gut feel some news was due on new drilling etc. This appears to be bigger news but it is strange why KGD is still trading if it relates to Woodlark? Also note less than 100k traded in KGD today with only a small irrelevant price rise.

GPR Price at posting: 3.0¢ Sentiment: Buy Disclosure: Held
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