It’s All good guys,
it just means the ASX somehow has no confidence in the price of gold and antimony among other concerns and theeefore would be misleading for LRV to use such forecasts
At least the asx has not asked Ron to retract all that he said in the mining event - for example he’ll likely get LRV to 20-year life of mine, no timeline for DFS completion, fid, project finance, among others - because if they did then it would be hilarious for Ron to eat his own words
back to the caves
——-here’s some reasoning, take your pick —
The Australian Securities Exchange (ASX) requires companies to retract forward-looking forecasts when those forecasts are no longer reliable or are based on outdated, misleading, or insufficient information. This requirement aligns with ASX Listing Rule 3.1, which mandates that companies must immediately disclose material information that could affect their share price.
Reasons ASX May Require Retraction:
1.Loss of Reasonable Basis – If a company’s financial, operational, or external conditions change in a way that makes a forecast unreliable, it must be withdrawn. For example:
•A company forecasted strong revenue growth but later lost a key contract.
•Economic conditions (like interest rate hikes) significantly impact projected earnings.
2.Misleading or Deceptive Conduct (ASIC Rules) – If a forecast could mislead investors, the Australian Securities and Investments Commission (ASIC) and ASX may intervene to prevent potential breaches of Corporations Act 2001 (Cth) provisions on misleading statements.
3.Failure to Update Material Information – If a forecast becomes inaccurate and is not updated or retracted, the company may violate continuous disclosure obligations.
4.Market Sensitivity & Speculation – The ASX aims to prevent speculation based on unreliable guidance, which can cause unnecessary stock price volatility
(20min delay)