Resources & Energy Group Limited (ASX:REZ) Responds to ASX Price Query
Company’s Trading Response
Resources & Energy Group Limited (REZ) has responded to the ASX’s price query following a notable increase in the trading price and volume of its securities. The company affirmed it is unaware of any undisclosed information that could explain this trading behaviour.
Ongoing Projects
REZ continues to focus on its trial gold recovery program at the Maranoa prospect, located at East Menzies. The latest details regarding this program were disclosed in prior ASX announcements made on 16 October, 31 October, and 4 November 2024. Additional results from the program will be reported once they are finalised.
Gold Price Increase
The company highlighted that since confirming its Maranoa project and associated capital raising on 26 April 2024, the Australian dollar gold price has risen significantly from A$3,600 to A$4,300 per ounce, reflecting a 20% increase. This rise is expected to enhance the anticipated returns from the Maranoa program.
Compliance Confirmation
REZ confirmed its compliance with ASX Listing Rules, particularly Listing Rule 3.1, and noted that these responses were authorised by the Board of Directors under the company’s continuous disclosure policy.
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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