Stavely Minerals Limited (ASX:SVY) Responds to ASX Query
Stavely Minerals Limited (ASX:SVY) has responded to a recent query from ASX regarding unusual trading activity in its securities. The company’s Executive Chairman, Chris Cairns, confirmed that SVY is not aware of any undisclosed information that could explain the price fluctuations observed.
The stock experienced a rise from $0.016 to $0.0245 on 2 January 2025, prompting ASX’s inquiry into potential reasons behind this movement. Stavely suggested that the increase may relate to market anticipation surrounding assay results from the Junction copper prospect in Victoria, following recent drilling.
Samples from the Junction drilling program were sent to ALS laboratory in Adelaide on 12 December 2024, with a receipt confirmation received by SVY on 18 December. The company indicated that assay results typically return within four to six weeks. However, delays due to holiday scheduling may affect this timeline.
In terms of confidentiality, SVY has established protocols ensuring that access to assay results is strictly limited. The final assay results will be stored on a secure server, ensuring confidentiality until they are released to the market.
The response from Stavely Minerals underscores its compliance with ASX Listing Rules, reaffirming its commitment to transparent communication with investors and stakeholders.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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