A trading halt is called if an announcement is not ready to be made but there is someone that may be able to leak news that enables insider trading.
It could be that they've come to a ballpark figure within a few MT and are almost in agreement with the external consultants but it's enough for someone to put in a big bid (or short if it's bad news) knowing a rough resource size (for this current situation) and get in before everyone else knows.
It's basically called because someone outside of a very tight group of people (MD, CEO, Board) has information and is a safer option than hoping nobody succumbs to the urge to make a few dollars unethically.
Add to My Watchlist
What is My Watchlist?
