Volt resumes trading while Arrow remains suspended
Shares in ASX-listed Volt Resources resumed trading on Friday after the company said it had not received formal communication from the Guinea government regarding the status of its mineral tenements. This followed media reports of potential licence cancellations in the West African country.
Volt said it had engaged with authorities in Guinea to clarify the situation and would update the market once more information became available.
The company holds legacy gold assets in Guinea through subsidiaries KB Gold and Novo Mines but ceased further expenditure on these projects last year and subsequently impaired their carrying value.
“As of today, Volt has not received any formal communication from the Guinea government in relation to the status of our exploration tenements,” the company said in a statement to the ASX.
The ASX lifted the suspension of Volt’s securities immediately following the announcement.
Meanwhile, Arrow Minerals remains suspended from trading after failing to provide an update on the situation in Guinea by the deadline it had set in its request for voluntary suspension.
Arrow had initially requested a trading halt on Monday, followed by a voluntary suspension on Wednesday, pending an announcement related to its exploration licences in Guinea. The ASX said on Friday that Arrow’s securities would remain suspended until the company complied with disclosure obligations.
Arrow holds interests in the Simandou North iron-ore project and the Niagara bauxite project, both located in Guinea.
The uncertainty follows reports earlier that Guinea’s military-led government had revoked 51 mining licences as part of a broader effort to reclaim underutilised or dormant concessions.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation