Trading halt called - but the Horseshoe has bolted

STOP PRESS ... HORSESHOE UPDATE ...
Following Diary's musings about Horseshoe Metal's (HOR) runaway share price this morning, the company placed its shares in a trading halt pending the release of drilling results from its Horseshoe Lights copper-gold project in WA.


As Diary noted this morning, Horseshoe shares have more than doubled this week. Of course, the only explanation for the sharp rise would seem to be that some punters simply recalled the words of the company's quarterly report and then looked at their calendars.

This stated that assays from drilling at Horseshoe Lights would be available in "two to three weeks". It was published on January 30.

It appears these punters have impeccable timing, with Horseshoe just announcing that its shares would be halted "pending the announcement of drilling results" from Horseshoe.

"The reason for the request is to facilitate an orderly market in the company's securities pending an announcement by the company regarding the drilling results," Horseshoe said.

Is that an admission that the market has been disorderly?


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