Interestting comment Black Bull. And very interesting follow up by mobii.
I think most of us here actually understand asx listing rules and how announcements are made.
Firstly the ASX have a query before the company regarding price movement. That is confirmed. It has also been confirmed by the company today that the stock has been suspended BASED on that price query as well as the acqusition. In other words, likely the two are linked.
Yes, an announcement regarding an acquisiton can be a complex one for companies who dont know what they are doing. But rarely do other listed companies get pulled up by the ASX BEFORE an announcement hits the market. Most mining companies know how to put together an announcement and/or respond to a price query in a timely manner.
When a proposed acquistion occurs, often you will see terms for the arrangement, ie a mix of shares and cash, and a proposal for either a placement or shareholder capital raising.
You dont need a full prospectus at announcement time.
If it does have a JORC then it can be said. If it doesnt, say that too. The rules are quite loose here. In some cases you can even get away with not naming the site of the acqusition.
Basically, you just need to say what the company is planning to do and usually what agreements have been reached unless they are at this stage confidential or not finalised.
Lets not confuse people by suggesting that complying with ASX listing rules or responding to a price query is especially difficult.
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