Ballarat Gold - In a very good position ?

12vic,
You make some interesting points but I have assumed that supply and demand is almost irrelevant in these dual listed stocks . punters simply look at the closing price in OZ and convert at current exchange rate to try and decide what they are prepared to buy or sell at . The MM does the same and can not go wrong with his wide spread . The system here seems to be for benefit of MMs and to ensure they make a good living as middlemen !
Presumably there are not so many shares on Uk AIM register so hard to achieve high volume . At certain times ( Eg . when gold price moves up sharply during Uk trading hours ) I suppose there could be increased volume and even a higher closing price here than in OZ . UK would then temporarily have become lead market . I notice other dual listed stocks such as ROC also have low volume in UK and a wide spread !
One thing I can not figure out is why a stock like RIO trades at such a big discount to the OZ price - recently almost a £3 difference ! used to be much less of a disparity . Any thoughts on that ? Maybe different voting rights ?