HDY 0.00% 0.4¢ hardey resources limited

I have not yet formed an opinion about this extended suspension...

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  1. 5,466 Posts.
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    I have not yet formed an opinion about this extended suspension - I only hold a couple of mill oppies that I bought at rock bottom for a quickie trade. I knew the risks involved in doing that without full research and DD. I have compassion for long term holders who feel duped by the events of late, but as far as I am concerned I will take what comes.

    A simple explanation for the suspension is that the Company and ASX cannot agree the wording for the description of the tenements acquired. On one hand the Company must disclose all information which they have which might be price sensitive (so that there is not a FALSE market). Set against that is the requirement to fully justify - with evidence - any claim made. Clearly there is room for interpretation and disagreement, particularly if statements are made like 'the strike of the veins outcrop over xx km and grade yy%'.

    I can also envisage certain problems with the new share holders who now hold company shares in return for their tenements - they may want certain facts which they used to sell their tenements to be acknowledged and officially made public in an ASX ann, but ASX may say that those facts do not meet minimum factual standards. So we may have three groups in discussion and at loggerheads.

    It will probably work out, it usually does, but meanwhile peeps should hold back from being too critical, specially of individuals.

    All just my own views, make up your own mind, and remember that you should never invest more than you can reasonably for see losing.
    Last edited by JandJ: 24/09/18
 
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