Metminco Share Discussion Threads

[avizandum] 11/6/2016 23:26

Hi Jungmana. Not really responding to your thread (though informative) but using it to answer a question on "the other " board (where I am not a member). Hope you don't mind. The issue is why suspend on ASX and not AIM. IMHO, the difference is in the rules:

Rule 17.1 ASX states inter alia (rewording) price sensitive info must be notified if suspect leak into public domain and ask for trading halt ("TH"). The TH can last for two trading days, or earlier if announcement made, so technically this TH could last until Weds trading in Oz.

AIM Rule 11 (c) and (d) deal with same scenario this end of the bubble. (c) requires company to issue a "warning Notice" (rather then a TH) if suspects breach of confidentially, but must notify if information has been made public. Think the RNS re ASX TH is sufficient warning notice for Rule 11 where company not sure info in public domain.

So it appears IMHO that it is the difference in the rules that causing the problem. Hope all Oz investors can access AIM to continue to deal. GLA and thanks Jungmana, hope you don't mind.

[the count of monte_cristo] 11/6/2016 19:35

I think she did

[steve12345678] 11/6/2016 15:26

He/she probably sold the day before the share price increased.

[cantrememberthis2] 11/6/2016 15:20

why did granny sell? mystery....

[steve12345678] 11/6/2016 11:07

I think that breaching 0.3 is likely

[the count of monte_cristo] 11/6/2016 10:55

The mysterious people in the know....I hope they buy a 100m shares on Monday on and we breach the .3p level

Granny, was correct about this going crazy on news of developments with a funding partner for LC...where is he anyway? Oh yeah he turned into a shorter this week and said the share price was going sub .18p

[steve12345678] 11/6/2016 10:38

I know I was being sarcastic and I meant unfair in the sense that these people in the know will be buying shares on either AIM or ISDX and people that are unaware are selling the shares to them. That's how it is unfair.

[the count of monte_cristo] 11/6/2016 10:24

....Always the potential they could release news on the LSE on Monday....they have said news could be released earlier....

[the count of monte_cristo] 11/6/2016 10:16

Steve...companies have to add all the cautionary text, its part of the legalities of business. Can you imagine if they wrote what you suggested, then at the last minute the deal was not signed or something happened?

Unfair for AIM? Flip side to that is that its unfair to the ASX, people here can buy in on Monday, if they think positive news will be released on Tuesday...

[steve12345678] 11/6/2016 09:30

I think that the main point here being that the RNS could be interpreted by the reader as that they have almost concluded a deal. If they were not close then why would the put a time frame on this saying that they will have an outcome by June 14th? If you think that this deal could have quite possibly been progressing for quite some time and for all negotiations to fall through at the last minute doesn't seem very plausible, what's rather funny is how they word the RNS stating that they caution that there can be no guarantee the negotiations will be successfully concluded. The wording would strike anybody with an ounce of common sense as glaringly obvious. They may have well have written we are just finishing up signing the paperwork and then off to the pub.

One thing is clear is that it is unfair to shareholders on AIM, why didn't take the initiative to suspend trading? I read a comment above about the Aussies not knowing anything on one of the BB's, that I am afraid means nothing, all it takes is for one person to find something out to then effectively ruin it for everybody else, but as we all know news spreads like wildfire (no pun intended)

Metminco has done the right thing by releasing the RNS, by ASX suspending trading nobody can make money off of this, but AIM on other hand...well there will be more to come Monday.

[jungmana] 11/6/2016 08:57

Nearly 142m traded on aim and 60m on isdx. Lets see what monday brings. Gla

[the count of monte_cristo] 10/6/2016 16:10

Understood, thanks substp....interesting times ahead!

Have a good weekend all long termers.

[substp] 10/6/2016 15:46

This is a different news CMC ..... I wasn't talking about LC.... this was news posted today about Colombia...... Not interested in LC at the moment though when it comes good.... :-)

There is a big picture to look at......

[the count of monte_cristo] 10/6/2016 14:37

yes that's correct, which is about the Quinchia gold project in Columbia.

It is nothing to do with the Peruvian Copper preoject, Los Calatos, so I don't see how the Aussies can know anymore than us, certainly a read of the HC bb tells us this.

ASX closed on Monday...news on Tuesday on the ASX then....speculation on Monday on Aim on Monday:))

[substp] 10/6/2016 13:47

Hmmm CMC, but in part it is about MNCs Seafield....

[the count of monte_cristo] 10/6/2016 13:44

substp - that's about Quinchia NOT the LC project, thanks for posting that link though. I don't think the aussies have a clue which way it will go in regards LC

[cool hand kev] 10/6/2016 13:04

Oh Joy.
I don't think that the directors would have been loading up in the recent placing if they were expecting bad news. I hope not anyway. Pub Time :-)

[substp] 10/6/2016 13:04

Not surprised... but it looks like they were....

[geofferic1] 10/6/2016 12:59

Remember queens birthday Monday so ASX is closed till Tuesday

[the count of monte_cristo] 10/6/2016 12:48

the aussies don't know....just read the hc BB...

[cool hand kev] 10/6/2016 12:43

I said Early Aussie's in the know can trade on LSE. If it's big news it's worth staying up late to trade. IMO
Mondays Trades will tell you whether it's good or bad. I'll be watching carefully.

[steve12345678] 10/6/2016 12:40

Look on MCG.GB on quotes on here, this site splits them between the two.

[the count of monte_cristo] 10/6/2016 12:35

aim has less stringent rules on this....the asx is much tighter. I would expect Monday to be a speculative day on aim as people buy/sell on what they think will happen on Tuesday....

[steve12345678] 10/6/2016 12:27

It's obvious from the way the RNS is written is that they suspended it because someone/people were privy to certain information and would money off the back of it by buying early before the public knew. I just don't understand why aim didn't suspend it also? A number of large buys have gone through this morning and these are not speculative buys in my eyes.