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. 