Orinoco Gold Limited Requested For Extension Of Suspension: What Investors Should Know

Orinoco Gold Limited Requested For Extension Of Suspension: What Investors Should Know

Orinoco Gold Limited (ASX: OGX) came forward and made an announcement regarding the extension of the voluntary suspension. As per the press release, dated December 28, 2018, which was issued by Orinoco Gold, it is requesting for the extension because the company is unable to inform the market participants about the information related to potential capital raising. Orinoco Gold Limited happens to be a gold company which is engaged in the business of mining Cascavel gold mine. The company also focuses on discovering the advantages which is being possessed by Faina Goldfields Project. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]

Before moving forward, let us take a look at the events which has happened earlier as these events relate to the present information. Earlier, as per the press release dated December 14, 2018, the Orinoco Gold requested the trading halt because the information related to the potential capital raising was still pending.

However, the company issued another press release, dated December 18, 2018, in which it requested for the voluntary suspension. That is to say, it requested that its securities should be voluntarily suspended from the Australian Securities Exchange starting from December 18, 2018. This request was made by the company because it did not provide information about the potential capital raising. As per the same press release, the voluntary suspension needs to be in force till the time the company makes an announcement related to the potential capital raising. The press release also stated that by December 21, 2018, the company would be able to provide the necessary information.

As per the press release dated December 21, 2018, the company requested for the extension related to voluntary suspension. This extension was requested because the company was not able to furnish the information about the event which has been mentioned above. As per this press release, the voluntary suspension should be in force till the company furnishes the necessary information. The press release stated that, by December 28, 2018, the company would be able to furnish the required information.

However, according to the press release dated December 28, 2018, the extension regarding the voluntary suspension is requested because the company is unable to provide the required information. The voluntary suspension needs to be in action till the company announces the information about the potential capital raising and this release also contains the information about an expected date on which the company might come up with the required information. The press release stated that, by January 2, 2019, the company could make an announcement about the needed information.

The last traded price of the shares of Orinoco Gold Limited was A$0.008 per share. Let us now have a look at how the stock has performed from the past few months. Considering the time span of three and six months, the stock has delivered the return of -78.38% and -89.19%, respectively.

However, in the time span of previous one month, Orinoco Gold Limited has given -33.33% of the return.


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