AI assistant
DART MINING NL — Regulatory Filings 2016
Aug 8, 2016
64792_rns_2016-08-08_fff78e38-60a2-435c-8029-163979fb2a44.pdf
Regulatory Filings
Open in viewerOpens in your device viewer
6th Floor 412 Collins Street Melbourne, Victoria 3000 Australia Telephone: +61 (0) 2 6076 2336 Email: [email protected] Web: www.dartmining.com.au ABN 84 119 904 880
9 August 2016
Mr. John Johansson Adviser, Listing Compliance (Melbourne) ASX Compliance Level 4 North Tower Rialto 525 Collins Street Melbourne Vic 3000
Dear Mr. Johansson,
Dart Mining NL: ASX Price Query
In response to your price query dated 5 August 2016 regarding an increase in the Company’s share price, the Company’s response is a follows:
1. Is the Entity aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities?
Yes. The company conducted a grab‐sample assay analysis of mineralised pegmatite samples collected from a newly identified Lithium, Tin, Tantalum prospective area within the company’s tenements in NE Victoria. The assay results showed the presence of significant grades of Lithium and Tantalum.
2. If the Answer to question 1 is “yes”:
- a) Is the Entity relying on Listing Rule 3.1A not to announce that information under listing Rule 3.1?
Yes. Results required competent person sign-off by a person with lithium specific credentials, which was not immediately available.
b) Can an announcement be made immediately?
At the date of the request the announcement could not be made immediately.
c) If an announcement cannot be made immediately, why not and when is it expected that an announcement will be made?
The decision was made to place the company in a trading halt until the results were reviewed and signed-off by a competent person. The announcement has now been made in conjunction with this response to the price query.
==> picture [124 x 160] intentionally omitted <==
6th Floor 412 Collins Street Melbourne, Victoria 3000 Australia Telephone: +61 (0) 2 6076 2336 Email: [email protected] Web: www.dartmining.com.au ABN 84 119 904 880
3. If the answer to question 1 is “no”, is there any explanation that the Entity may have for the recent trading in its securities?
- Notwithstanding our response to question one, it is the Company’s opinion that Lithium related information contained in the quarterly release dated 29 July 2016 and the recent intense scrutiny of Lithium related activity, created interest in Dart Mining by prospective investors. Dart was mentioned along these lines in an article in “Mining News” on Tuesday 2[nd] August 2016. We note also that the share price movement coincided with the “Diggers and Dealers” annual mining forum held in Kalgoorlie last week, where numerous Lithium related companies showcased Lithium potential.
4. Please confirm that the entity is in compliance with the Listing Rules and, in particular, Listing Rule 3.1.
- Dart confirms that it is in compliance with the ASX Listing Rules, including ASX Listing Rule 3.1.
Yours sincerely
==> picture [133 x 43] intentionally omitted <==
Julie Edwards
Company Secretary
5 August 2016
Ms Julie Edwards Company Secretary Dart Mining NL Level 6, 412 Collins Street Melbourne VIC 3000
By email: [email protected]
Dear Ms Edwards
Dart Mining NL (the “Entity”): ASX price query
We note the change in the price of the Entity’s securities from a low of $0.013 to an intra high of $0.021 today, 5 August 2016 at the time of writing.
We also note the significant increase in the volume of the Entity’s securities traded today, 5 August 2016.
In light of this, ASX asks you to respond separately to each of the following questions:
- Is the Entity aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities?
In responding to this question, please consider in particular whether the Entity is aware of any information that its earnings for the 12 month year ended on 30 June 2016.
-
a) are likely to differ materially (downwards or upwards) from any earnings guidance it has given for the period; or
-
b) if the Entity has not given any earnings guidance for the period, are otherwise likely to come as a surprise to the market (by reference to analyst forecasts for the period or, if the Entity is not covered by analysts, its earnings for the prior corresponding period)?
-
If the answer to question 1 is “yes”:
-
a) Is the Entity relying on Listing Rule 3.1A not to announce that information under Listing Rule 3.1?
Please note that the recent trading in the Entity’s securities would suggest to ASX that such information may have ceased to be confidential and therefore the Entity may no longer be able to rely on Listing Rule 3.1A. Accordingly, if the answer to this question is “yes”, you need to contact us immediately to discuss the situation.
- b) Can an announcement be made immediately?
Please note, if the answer to this question is “no”, you need to contact us immediately to discuss requesting a trading halt (see below).
ASX Compliance Pty Limited ABN 26 087 780 489
20 Bridge Street Sydney NSW 2000
www.asx.com.au Customer service 13 12 79
==> picture [65 x 114] intentionally omitted <==
==> picture [38 x 58] intentionally omitted <==
-
c) If an announcement cannot be made immediately, why not and when is it expected that an announcemant will be made?
-
If the answer to question 1 is “no”, is there any other explanation that the Entity may have for the recent trading in its securities?
-
Please confirm that the Entity is in compliance with the Listing Rules and, in particular, Listing Rule 3.1.
When and where to send your response
This request is made under, and in accordance with, Listing Rule 18.7. Your response is required as soon as reasonably possible and, in any event, by not later than 05:00pm AEST on Friday, 5 August 2016. If we do not have your response by then, ASX will have no choice but to consider suspending trading in the Entity’s securities under Listing Rule 17.3.
You should note that if the information requested by this letter is information required to be given to ASX under Listing Rule 3.1 and it does not fall within the exceptions mentioned in Listing Rule 3.1A, the Entity’s obligation is to disclose the information “immediately”. This may require the information to be disclosed before the deadline set out in the previous paragraph.
ASX reserves the right to release a copy of this letter and your response on the ASX Market Announcements Platform under Listing Rule 18.7A. Accordingly, your response should be in a form suitable for release to the market.
Your response should be sent to me by e-mail at [email protected]. It should not be sent directly to the ASX Market Announcements Office. This is to allow me to review your response to confirm that it is in a form appropriate for release to the market, before it is published on the ASX Market Announcements Platform.
Listing Rule 3.1
Listing Rule 3.1 requires a listed entity to give ASX immediately any information concerning it that a reasonable person would expect to have a material effect on the price or value of the entity’s securities. Exceptions to this requirement are set out in Listing Rule 3.1A.
The obligation of the Entity to disclose information under Listing Rules 3.1 and 3.1A is not confined to, nor is it necessarily satisfied by, answering the questions set out in this letter.
In responding to this letter, you should have regard to the Entity’s obligations under Listing Rules 3.1 and 3.1A and also to Guidance Note 8 Continuous Disclosure: Listing Rules 3.1 – 3.1B .
Trading halt
If you are unable to respond to this letter by the time specified above, or if the answer to question 1 is “yes” and an announcement cannot be made immediately, you should discuss with us whether it is appropriate to request a trading halt in the Entity’s securities under Listing Rule 17.1.
If you wish a trading halt, you must tell us:
-
the reasons for the trading halt;
-
how long you want the trading halt to last;
-
the event you expect to happen that will end the trading halt;
-
that you are not aware of any reason why the trading halt should not be granted; and
Page 2 of 3
==> picture [65 x 114] intentionally omitted <==
==> picture [38 x 58] intentionally omitted <==
- any other information necessary to inform the market about the trading halt, or that we ask for.
We may require the request for a trading halt to be in writing. The trading halt cannot extend past the commencement of normal trading on the second day after the day on which it is granted.
You can find further information about trading halts in Guidance Note 16 Trading Halts & Voluntary Suspensions .
If you have any queries or concerns about any of the above, please contact me immediately.
Yours sincerely
[Sent electronically without signature]
John Johansson Adviser, Listings Compliance (Melbourne) P: 03 9617 8770
Page 3 of 3