Errawarra Resources Ltd (ASX:ERW) Responds to ASX Query
Company’s Response to ASX Inquiry
Errawarra Resources Ltd (ASX: ERW) responded to an ASX aware query regarding its recent trading activity and the Falcon joint venture (JV) with Falcon Metals. In its response, the Company stated it does not believe the Falcon JV information would materially affect its share price, noting that trading had stabilised after the announcement of the JV.
Details of the Falcon JV
The Falcon JV focuses on a grassroots exploration opportunity to investigate a gold soil anomaly, which the Company has previously reported without significant market reaction. Errawarra first engaged with Falcon Metals in February 2024 and finalised the JV agreement on November 26, 2024.
Timeline of Events
The Company detailed its timeline regarding the JV, stating it received a near-final draft of the agreement on November 24, 2024, while still negotiating terms. The board approved the JV during a meeting on November 26, leading to a market announcement on November 27, 2024.
Compliance Confirmation
Errawarra confirmed compliance with ASX Listing Rules, particularly noting that the information would not necessitate immediate market disclosure while under negotiation. Executive Chairman Thomas Reddicliffe affirmed that their responses were approved in accordance with the Company’s continuous disclosure protocols.
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