What a week! Interesting reading the theories above about...

What a week!

Interesting reading the theories above about possible reasons for the VS.

There’s a hundred possible reasons for the extension - some good and some bad.

The one I keep coming back to is ASX Guidance Note 16:



At the end of the day the ASX doesn’t want multiple THs in short succession - it disturbs trading too much. My guess is the ASX queried the price movement on Monday, and contacted GLN saying wtf guys?

Galan said nothing to see here, we’ve got concurrent drilling/testing going on in different areas and all the results are kinda due now. Its just a bit of FOMO.

The ASX waived GN16 at them and said if multiple results are imminent that’s a lot of interruption and there’s more opportunity for leaks, so given the unusual price and volume jump, maybe it’s a good idea to go into TH/VS until you’ve got everything, then announce it all together.

Just my opinion.

https://www.asx.com.au/documents/rules/gn16_trading_halts.pdft