CXO 1.08% 9.4¢ core lithium ltd

Ann: Finniss Lithium Project Exploration Update, page-39

  1. 215 Posts.
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    For those who wonder about whether an announcement should or shouldn't be price sensitive, it's all here:

    https://www.asx.com.au/documents/about/abridged-continuous-disclosure-guide-clean-copy.pdf
    ... and the crux of it is that a price sensitive announcement is one which “a reasonable person would expect to have a material effect on the price or value of the entity’s securities”.

    Several examples of a sensitive announcement are given, including "a material mineral or hydrocarbon discovery", but the article goes on to state that "ASX acknowledges that because of this, the test for determining the materiality of information in section 677 can
    give rise to some difficulty in practice for listed entities in assessing whether or not they have an obligation to
    disclose information under Listing Rule 3.1. They are effectively required to predict how investors will react to
    particular information when it is disclosed. In some cases this may be fairly obvious but in others not so.
    However, this difficulty is inescapable
    ".

    So all in all, it's not very satisfying, and the questions on HC "why was/wasn't that price sensitive" will no doubt continue rolleyes.png

    Figaro
 
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