QEM Limited has responded to ASX inquiries about unusual trading activity, confirming no undisclosed material information and deferring assay results to its March quarterly report.
- QEM confirms no undisclosed material information explaining recent trading
- Water bore drilling samples taken in September 2025, assays deprioritized
- Assay results expected in March 2026 Quarterly Report
- Company affirms compliance with ASX Listing Rules
- Board-authorised response to ASX price and volume query
Background to the ASX Query
QEM Limited (ASX, QEM), a Queensland-based exploration company, recently faced an ASX price and volume query following a notable spike in its share price and trading volume on 12 February 2026. The stock opened at 1.4 cents and surged to an intraday high of 2.2 cents, prompting ASX Compliance to seek clarification on whether any undisclosed material information might be driving this activity.
QEM’s Response and Disclosure
In its formal response, QEM stated it was unaware of any new information not already disclosed to the market that could explain the recent trading surge. The company confirmed it had conducted water bore drilling in September 2025, during which samples were opportunistically collected for assay. However, these assays were not prioritised, and the results were not expected until January 2026 as per the December 2025 Quarterly Report.
Subsequently, as part of a strategic review, QEM decided not to proceed with assaying these samples, a decision that will be formally disclosed in the March 2026 Quarterly Report. This deferral has left the market without fresh assay data, which may contribute to speculation and volatility in the company’s share price.
Compliance and Market Implications
QEM reaffirmed its compliance with ASX Listing Rule 3.1, which governs continuous disclosure obligations, and confirmed that its Board authorised the response to ASX. The company did not provide detailed information on confidentiality arrangements for the exploration results, but indicated no breach of disclosure rules.
The lack of new assay results combined with unexplained trading activity raises questions about market sentiment and investor speculation. While QEM maintains transparency, the deferral of assay results means investors must await the March quarterly update for substantive news on exploration progress.
Looking Ahead
Investors and analysts will be watching closely for the March 2026 Quarterly Report, which is expected to clarify the status of the water bore drilling assays and potentially provide fresh insights into QEM’s exploration prospects. Meanwhile, the recent trading volatility underscores the challenges smaller exploration companies face in balancing disclosure timing with market expectations.
Bottom Line?
QEM’s deferral of assay results leaves investors in suspense as trading activity heats up.
Questions in the middle?
- What prompted the recent surge in QEM’s share price absent new material information?
- Will the March Quarterly Report reveal assay results that could shift market sentiment?
- How will QEM manage market expectations amid ongoing strategic reviews?