The All Ordinaries (Index: ^AXAO) (ASX: XAO) may have sunk lower on Tuesday, but the three shares listed below have managed to miss out on today’s declines after being placed in trading halts.
Here’s why their shares are halted right now:
Alderan Resources Ltd (ASX: AL8)
This base metal exploration company’s shares were quickly placed into a trading halt on Tuesday after rocketing 21% higher on the back of no news. The halt was requested so that Alderan’s management team could prepare a response to a price query from ASX. It is expected to remain in the trading halt until the commencement of trade on Thursday. This latest gain meant that Alderan’s shares had risen 76% in the space of the week. There have been rumours floating around that Rio Tinto Limited (ASX: RIO) has its eyes on the company’s assets. It has operations neighbouring Alderan’s.
oOh!Media Ltd (ASX: OML)
This outdoor advertising company’s shares are in a trading halt whilst it conducts the institutional component of the accelerated entitlement offer. This is being done in order for oOh!Media to raise the funds required to acquire the Adshel business from HT&E Ltd (ASX: HT1) for $550 million. No details have been provided on what price the company is raising the funds at, but an announcement is expected to be made on Wednesday morning.
Talga Resources Ltd (ASX: TLG)
Talga Resources is another mineral exploration company which is in a trading halt at present. The company requested the trading halt whilst it prepared an announcement in relation to a funding initiative. The company made the move after it achieved high levels of electrical conductivity in concrete by using an additive developed by its graphene-graphite research and development laboratory in the UK. There are theories that this concrete could be used to recharge electric vehicles wirelessly whilst they drive on roads. While it is too soon to invest in my opinion, it could be one to watch.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.