Hello to all you holders down under, from POME Nigel.
It is the sentiment by most here in the UK that the reason for de-listing from ASX is to enable the scoping study figures to be released with $NPV or £NPV. ASX rules prevented this from happening last November insisting that at least 60% of the metals had to be proven up before figures could be released. This caught almost every UK investor out has we were not aware of this rule on ASX, hence the price crash.
AIM is very different (very unregulated) and after de-listing it is my belief that the revised figures will be put out into the public domain. If the figures really are as good as Laurence Read as suggested in podcasts then this could rocket in a day. (My thinking is RNS Moday 11th March 7AM london time, after delisting 8th March ASX).
Recently I found myself in the same situation as you guys with a UK company being bought out by a ASX company and I had to find a broker that deals on ASX. I used HSBC and the fee was 3 times my normal trade, but it was well worth it as the share doubled in price. It then took 2 weeks to physically see the money. (Currency fluctuations GBP to ASD are minimal)
Remember last year in the run upto the scoping study this was GBP £0.015 awaiting news (Now £0.00375). Had the figures being published in the RNS it would have been much higher so maybe well worth you guys holding for the bigger picture to unfold. It is not unusual here on AIM to get 100-500% rises in a day.
Please have a look at the chat board for EUZ on AIM.
www.lse.co.uk and type EUZ in the search box.
All the best to all holders, ASX, JSE & AIM
PS, I have been adding at these prices but please DO NOT take that as advice.
Regards from cold England
G'day Nige. Thanks for the respectful and informative post. You play a straight bat and I can assure you that the ball won't come within a chain of any sandpaper with us over here. Do you know of any good cheap user-friendly online brokers over there that would be happy to take on a bewildered mob of ockers from the colonies who are looking to trade in London on the LSE and AIM?
