Aldoro Resources has responded to an ASX price query by releasing partial exploration assay results after a significant share price jump, citing laboratory delays and confidentiality concerns as reasons for prior nondisclosure.
- Share price rose from $0.305 to $0.51 within a week
- Company held incomplete, confidential assay results under Listing Rule 3.1A
- Trading halt and voluntary suspension requested amid heightened market activity
- Partial diamond drilling assay results now released; further results expected in weeks
- Laboratory backlog and multi-element testing caused delays in assay reporting
Context Behind the Price Movement
Aldoro Resources Limited (ASX: ARN) recently faced an ASX price query following a sharp increase in its share price from $0.305 on 7 April 2025 to an intraday high of $0.51 on 15 April 2025. The ASX sought clarity on whether Aldoro was in possession of any undisclosed information that could explain this trading activity.
In its detailed response, Aldoro confirmed it was aware of incomplete exploration assay results at the time, which were confidential under Listing Rule 3.1A. The company emphasized that these results were not yet ready for market release due to pending assays and the need for comprehensive verification.
Managing Disclosure and Market Integrity
Given the unusual trading activity, Aldoro proactively requested a trading halt and subsequent voluntary suspension to manage disclosure responsibly. This move was designed to prevent any misleading market signals while the company awaited full assay data.
The company explained that the delay in assay results was partly due to a laboratory backlog, as multiple gold exploration companies submitted samples simultaneously. Additionally, the complexity of testing for a broad suite of elements, including Niobium, Rare Earth Elements, Carbonatite Minerals, Molybdenum, Platinum Group Elements, Gold, and Radioactive Elements, meant assays were processed in batches, further extending turnaround times.
Partial Results Released and Next Steps
Despite the incomplete nature of the data, Aldoro has now released partial results from 14 completed drill holes, which have been reviewed by an independent Competent Person. The company intends to release further assay results as they arrive, with drilling expected to conclude by mid-May and additional results anticipated within two to three weeks thereafter.
Aldoro also clarified its strategic decision to delay trench sample assays until drill core results are fully assessed, aiming to optimise shareholder funds and focus on the most critical data for resource evaluation.
Compliance and Governance
The company reaffirmed its compliance with ASX Listing Rules, particularly Rules 3.1 and 3.1A, maintaining that confidentiality was preserved until the appropriate time for disclosure. Aldoro’s Board authorized the responses to the ASX query, underscoring the company’s commitment to continuous disclosure and market integrity.
This episode highlights the challenges junior explorers face balancing timely disclosure with the realities of complex assay processes and market expectations.
Bottom Line?
Aldoro’s phased assay disclosures and trading halt underscore the delicate balance between market transparency and operational realities in junior exploration.
Questions in the middle?
- How will upcoming assay results impact Aldoro’s resource estimates and valuation?
- Will laboratory bottlenecks continue to delay future exploration updates?
- Could the partial release strategy affect investor confidence or share price volatility?