GXY 6.40% $3.51 galaxy resources limited

Ann: Trading Halt, page-187

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  1. 524 Posts.
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    Reason is quite likely because SP started to climb, ASX contacted GXY to inquire whether the entire market was equally fully informed (pre speeding ticket conversation),

    GXY noted they do have some news on the way (trading halt imminent), decision taken to pause trading to ensure no leaky ship until trading halt (thus the pause). Then trading halt.

    IMO news is quite likely that POSCO funds have cleared.

    i think this alone is enough for a trading halt as the board can now comment on their intended next steps which would also be a price sensitive market indication. However, sure there could be more, certainly more coming as this was the Keystone interim step.

    When AT said there would be a flurry of announcements by end of year, looks like he was just out by two months.

    in any case, considering the momentum change across lithium stocks, i suspect that was the bottom. Expect a gradual rerun and rerate.

    if it's good news, shorts rapidly closing (imploding) from until very recently ASX's 'most shorted' WILL cause a spike. How big? Dunno, don't care, because once (if!) funds clear, GXY is a completely different animal. We have lots of money in a cash starved sector with huge growth potential.

    On shorting, IF this is good news, this is a classic demonstration of event risk. If someone opened new shorts this late in the piece, or failed to close, it really is hard to sympathise with the potential predicament said shorter would now be in.

    to longs who sold out, i firmly believe this is the start of an extended rerate if the news is good (use good judgement but it's not too late to jump back in and ride it back up).

    GLTA

 
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