Listing Rule 3.1 requires "immediate" disclosure of any information concerning ASX which a reasonable person would expect to have a material effect on the price or value of shares and/or other securities of ASX . This is typically referred to as "market sensitive information" .
On 20th Sept 2018 it was announced production had commenced and "The MgLi alloying plant was installed and successfully tested on site. Alloy quality testing both locally and internationally against prescribed high purity standards has been successful". In today's announcement it states "Construction and installation of a Magnesium Lithium plant at Pingyao with a nominal capacity of 108tpa was completed in September 2018. Since then, samples of MgLi alloy were sent for testing by the potential customer but unfortunately,the samples did not meet the customer quality requirements and no further production was undertaken" So this was first known when ?
I don't recall any announcement of production ceasing or of product not meeting customer quality requirements . Would this be considered market sensitive information ? The commencement of production apparently was , but not the cessation . Why so ?
Over to you Messrs Bass and Blackhurst .
CMC Price at posting:
1.1¢ Sentiment: None Disclosure: Held
