Inital Trading
The TSX price is just following the ASX price around off the IPO.
The one disapointment I had with this IPO from the start was the low pricing at the bare minimum $0.20 level. While now having exposure to a more broad range of investor money on the ASX, the IPO did dilute the current share float - and very very cheaply at $0.20 (~$0.067 pre-split). You would think if managment had more confidence in what they have seen so far they would have lifted the IPO price closer to $0.30. Anyways, demand was very strong at the $0.20 level clearly and I think we're just seeing some very short-term profit taking from some smaller buyers of the IPO. Taking a quick 10-20% profit on their allotment and maybe, or maybe not, looking to buy it back at $0.20. Low hanging fruit at the end of the day.
Looking out longer-term than the day-to-day I think the ASX listing is still a very positive development for the stock. There is still pent up demand to buy on the ASX with a lot of investors waiting/watching the initial volatility and could easily run it back up to $0.30 without any assay results. A lot of people anxious for immediate results and a stock price boom, but this will likely take a couple quarters to get there.