THE BOURSE WHISPERER: Gascoyne Resources (ASX: GCY) responded to Westgold Resources’ (ASX: WGX) taunt’s by requesting the ASX place the company’s ordinary shares in a trading halt with immediate effect.
Gascoyne Resources requested the trading halt saying it requires time to complete, “the finalisation and Board approval of a material update to its business plan”.
The company indicated that once the trading halt is lifted it expects to be able to provide additional information in respect of the Westgold Resources’ announcements regarding its unsolicited intention to make a takeover bid for the company.
“The Company requests that trading of its ordinary shares be halted until after the expected announcement of the update to its business plan is made or until the market opens on Wednesday 13 October 2021, whichever is the earlier,” Gascoyne said in its request to the ASX.
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