Delisted Australian gold explorer, Haoma mining trading shares on Blockhain platform 10054
Blockchain
Chaitanya Thammaya
May 28, 2018 at 5:56 PM

Haoma Mining, the company which was delisted over claims of gold discovery is selling its shares on a Blockchain platform.  Haoma announced today that they have set up a private trading hub on PrimaryMarkets’ platform. The PrimaryMarkets platform delivers liquidity to securities and investments that are unlisted.

They also added that their subsidiary PrimaryLedger Limited will be undertaking Haoma’s share registry services. Sources report that they expect to trade the shares from the 6th of June, 2018. PrimaryLedger offers blockchain-based, globally standardised registry service for unlisted securities and investments. They create Digital Financial Instruments using the Ethereum Blockchain. These instruments allow to create and store an immutable record to verify ownership titles of financial securities. These can be equities, units, investments and debt instruments issued by companies and managed funds and trusts; and they can be either listed or unlisted companies.

In February, Haoma Mining got delisted by the Australian Securities Exchange (ASX) for a proposed company announcement. Haoma announced that they had discovered watermelon-seed-like gold nuggets in one of their exploratory sites in Western Australia’s Pilbara region. The announcement regarding the discovery of gold nuggets at one of their exploratory sites was declared non-JORC compliant by ASX. Haoma’s refusal to retract their statement resulted in the delisting.

Talking about the delisting and the subsequent trading of shares, Gary Morgan, the Chairman said,

“The directors of Haoma Mining consider that in the circumstances of the then ongoing discussions between Haoma Mining and ASX the action recently taken by ASX to delist Haoma was both unnecessary and unwarranted.”

On the topic of the trading of their shares, he further added,

“In the period since the delisting Haoma sought to identify a suitable and cost-effective platform whereby shares in Haoma Mining can be easily traded.”

Gary Morgan holds 67% of the shares in the company, he said that investors can sell or buy shares within the trading platform. The company at the time of delisting, was valued at $100 million and the price of each share was 25¢. They had 2,247 shareholders and about 1500 of them had less than 5000 shares each.

PrimaryMarkets issued all their shareholders with Ethereum Blockchain/Tokenised Digital Financial Instrument for their shareholdings in April.

The Blockchain scene in Australia has picked up speed after the Prime Minister issued directives to look into Blockchain applications.

Image from Haoma Mining

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