I’ve been eyeing up Jubilee Metals for about a month now and decided to buy over the weekend, with a view to increasing my holding, following positive results last week.
I attempted several purchases only to get a notification that my order had been rejected. Contacted support who advised that this was because I didn’t have funds available for the purchase- at that point I didn’t, having used them in the meantime. I funded my account and got the same notification so contacted support again who advised me that JLP wasn’t available:
“because we strive to offer healthy trading conditions, and due to this fact - we will no longer provide the security.”
The company appears to be in good health and long term prospects look excellent (getting metals from mineral waste is far easier than exploration and will be easier to get going again when the current situation is resolved). Trading isn’t suspended on the stock exchange and, indeed, this has been covered by, and tipped in, several publications recently.
Does ‘healthy trading conditions’ imply that someone knows something, that there is a hint of insider trading, that someone is about to dump a load of stock depressing the price or what? On the face of it, this seems an odd decision especially when it is the only UK stock to be withdrawn today (there are now 1840 LSE and AIM stocks to buy against 1841 this morning) and, it seems, for some time.
Does anyone have a proper explanation?