Kincora Copper Ltd V.KCC

Crazy morning

[wawahunt2]

Banks ( TD) has last price at .33 but the bid at .13, Hope it's sorted by the Open...

[EnglishBay]

Not a good day for anyone to trade this stock until reorg is completed. Looks like light volume with low liquidity right now. I suspect there's a few foolish traders selling their shares by mistake thinking the stock boomed to $0.33. With the ask now at 0.29, someone's actually selling at 0.095... 

[EnglishBay]

Anyone selling below $0.30 is just pure capitulation (or stupidity). The minimum requirement to list on the ASX is $0.30...KCC will no doubt ensure the price is propped up there at a minimum prior to listing application.

[martin95833]

Not much chance of that with me. My broker suspends all shares until the consolidation is complete which can take up to 10 working days. Who has access to sell their shares now?

[Chipshot2]

It is my understanding that the minimum price for the ASX IPO is $.20au. Chip

[EnglishBay]

I just double-checked and I stand corrected. $0.20au is the minimum listing price. And CAD FX rate is pretty much par with AUD (1.02rate). Any selling below $0.30 (formerly $0.10) is still remarkably foolish at this stage in my opinion however :P  As Sam mentioned, KCC small market cap won't be down here for very much longer. The upcoming assays that he's likely been somewhat privy

[Chipshot2]

I agree EnglishBay, It is hard to understand why anyone would be selling at this stage!