JOHANNESBURG (miningweekly.com) – Junior developer Volt Resources has withdrawn the announcement about the prefeasibility study results for its graphite project in Tanzania, after the company failed to adhere to new guidelines on forward-looking statements.
Volt had outlined production scenarios ranging from 60 000 t/y to 240 000 t/y of graphite concentrate, over a 20-year mine life for its Namangale project in an ASX announcement on Tuesday.
However, the ASX halted trading in its shares hours after the announcement and expressed concern that the announcement indicated, or amounted to, the reporting of a production target or forecast, which was not in accordance with listing rules.
“The company wishes to clarify that this was not its intention an,d in an effort to avoid any potential confusion or further conjecture, it has decided to withdraw the announcement,” executive chairperson Stephen Hunt stated on Wednesday.
The Australian Securities and Investment Commission last month issued the new guidelines on forward-looking statements.
Edited by: Creamer Media Reporter
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