ASX Inquiry Highlights Risks of Timing in iTech Minerals’ Material Information Releases
iTech Minerals has responded to ASX concerns, confirming it disclosed material information on its Bayonet, Sabre, and Falchion prospects promptly and in compliance with listing rules.
- Confirmed material impact of Bayonet, Sabre, and Falchion prospect assay results
- Detailed timeline of awareness and disclosure between 15 and 22 August 2025
- Explained website publication timing discrepancies due to GMT vs AEST
- Affirmed compliance with ASX Listing Rules 3.1, 3.1A, and 15.7
- Board-approved responses to ASX Aware Letter
Background to the ASX Inquiry
On 5 September 2025, iTech Minerals Ltd (ASX – ITM) formally addressed an ASX Aware Letter concerning the timing and disclosure of significant exploration results from its Reynolds Range Antimony-Gold Project in the Northern Territory. The ASX had sought clarity on whether information related to the Bayonet, Sabre, and Falchion prospects was released in accordance with continuous disclosure obligations.
Material Information and Timing of Awareness
iTech Minerals confirmed that assay results and geophysical data for both the Bayonet Prospect and the Sabre and Falchion Prospects contained information that a reasonable investor would expect to materially affect the company's share price. The company detailed that it first became aware of the Sabre and Falchion data on 18 August 2025 after internal geological analysis, and the Bayonet data on 21 August 2025 following receipt of specialist geophysical input. These dates were critical in determining when the company was obliged to disclose the information.
Disclosure Process and Compliance
Following awareness, iTech Minerals promptly prepared draft ASX announcements, which were approved by the board after market close on the respective dates. The Sabre and Falchion announcement was lodged on 19 August 2025, and the Bayonet announcement on 22 August 2025. The company emphasized that no prior announcements were made before these dates, as it was not yet aware of the full material information.
Website Publication Timing Explained
One point of contention was the apparent discrepancy in publication dates on iTech’s website, which appeared to precede ASX announcements. The company clarified this was due to the website’s content management system using Greenwich Mean Time (GMT), which is 10 hours behind Australian Eastern Standard Time (AEST). Consequently, while the website timestamps showed earlier dates, the public release occurred only after ASX announcements, maintaining compliance with Listing Rule 15.7.
Assurance of Regulatory Compliance
iTech Minerals affirmed its adherence to ASX Listing Rules 3.1 and 3.1A regarding continuous disclosure and confirmed that its responses to the ASX were authorised and approved by its board. The company also highlighted internal controls ensuring that market-sensitive information is only released after ASX acknowledgment, reinforcing its commitment to transparency and regulatory standards.
Looking Ahead
With heritage approvals secured for drilling at these promising prospects, iTech Minerals is poised to advance exploration activities later this year. Investors will be watching closely for upcoming drilling results, which could further influence the company’s valuation and market interest.
Bottom Line?
iTech Minerals has navigated ASX scrutiny with clear disclosure timelines, setting the stage for market anticipation around its next exploration milestones.
Questions in the middle?
- How will upcoming drilling results at Reynolds Range impact ITM’s valuation?
- Will ITM’s internal controls prevent future timing discrepancies in disclosures?
- How might the market respond to further assay results from Bayonet, Sabre, and Falchion?
