Kidman on trading halt as Perth’s Warden Court decision awaited

  • Sep 13, 2018 AEST
  • Team Kalkine
Kidman on trading halt as Perth’s Warden Court decision awaited

Lithium miner Kidman Resources Limited (ASX: KDR) pressed a paused button on ASX yesterday. The securities of Kidman Resources Limited have been placed in trading halt on 12 September 2018 after recoding +11.454% of day change to trade at $1.265.

The trading halt has been placed on company’s request due to pending market announcement that the company has to make in relation to recommendation of the Mining Warden for Perth. The decision is in regard to Kidman’s application for exemptions from previous obligations on tenement expenditure incurred on Company’s Mt Holland Lithium Project.

It is expected that company may have to cough up outstanding expenditure claims to Western Australia government for tenements cost incurred by the previous owner. However, up till this time no announcement has been made by the company in this regard. 

It has been stated that for the company to manage the continuous disclosure obligation it was necessary to go at trading halt. The trading halt will continue till the earlier of 17 September 2018 or on the release of company’ announcement as intended.

Kidman Resources Limited’s stock last traded at $1.265. The stock has seen an excellent performance change of 52.41% over the past 12 months.

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