no stopping... 5.1c
1.
Does TMG consider the Drill Hole Results to be information that a reasonable person would expect to have a material effect on the price or value of its securities?
No.
2.
If the answer to question 1 is “no”, please advise the basis for the view commenting specifically on the security price increase and volume of securities traded on Monday, 28 October 2024.
TMG does not consider the Drill Hole Results to have a material effect on its securities' price or value. Notably, TMG’s Achilles Project, which includes one of the highest-grade antimony deposits globally, has generated significant international interest due to high antimony prices and the project's substantial potential for expansion. Investors may have responded to recent announcements, which highlighted the acquisition of the Achilles Project (refer ASX 30/9/2024) and the Company's active steps toward a JORC-compliant resource restatement at the Wild Cattle Creek deposit (refer ASX 8/10/2024). Given TMG’s disclosure of plans to update and expand this resource in a strengthening antimony market, it is plausible that these factors contributed to the increased trading activity observed on 28 October 2024. However, the restated resource is still confidential and incomplete, and any potential impact on valuation remains speculative until the completion and announcement of the updated resource.
3.
When did TMG first become aware of the Drill Hole Results referred to in question 1 above?
TMG first became aware of the Drill Hole Results referred to in question 1 on 27 October 2024. At this point in time, the Drill Hole Results were insufficiently definite to warrant disclosure for the reasons set out in the response to question 5 below.
4
. When did TMG receive the Drill Hole Results for LMRD001, LMRD002 and LMRD003?
In answering this question please provide the date and time. TMG received the Drill Hole Results for LMRD001, LMRD002 and LMRD003 on 27 October 2024 at 4:15 pm (AWST).
5.
If TMG first became aware of the Drill Hole Results referred to in question 1 before the release of the Announcement, did TMG make any announcement prior to the time which it disclosed the information? If not, please explain why the information was not released to the market at an earlier time, commenting specifically on when you believe TMG was obliged to release the information under Listing Rules 3.1 and 3.1A and what steps TMG took to ensure that the information was release promptly and without delay.
As noted in the responses to questions 3 and 4, TMG became aware of the Drill Hole Results before the release of the Announcement. TMG did not make any announcement prior to the time which it disclosed the information because once results of this nature are received by the Company, they are processed by TMG’s geological team and the information treated as confidential. The results are compiled, validated and interpreted in the context of other drill results from the drill program to date. The significance of the Drill Hole Results could only be determined once this process has been completed.
In accordance with Listing Rule 3.1A, the Drill Hole Results were insufficiently definite to warrant disclosure at the time TMG became aware of the results. The Drill Hole Results were compiled, validated and interpreted in accordance with the process set out above, a draft ASX announcement prepared and reviewed by the Board and the Competent Person, with the consent of the Competent Person for inclusion of the Drill Hole Results in the final ASX announcement received at approximately 7:36 am (AWST) on 28 October 2024.
In accordance with Listing Rule 3.1, once the materiality of the Drill Hole Results was determined (following the prompt compilation, validation and interpretation of the results), the Drill Hole Results were released to the market.
6.
Noting the significant volume of securities traded prior to the release of the Announcement on Monday, 28 October 2024, did TMG consider whether a trading halt in its securities was necessary in order to manage its continuous disclosure obligations?
The Company advises that the Drill Hole Results were the subject of strict security and confidentiality protocols until they were released. As demonstrated by the response to question 5, once the Drill Hole Results TMG announced the information to the market promptly and without delay. TMG therefore considers its continuous disclosure obligations were adequately managed.
The Company notes that it maintains strict security and confidentiality protocols in regard to drill results. In particular:
• TMG treats the security and confidentiality of all drill results with the upmost importance to enable the Company to adhere to its continuous disclosure obligations by announcing
the outcome of a drilling program once sufficient information has been received to allow a meaningful interpretation of the results.
• Until release on the market announcements platform, the results of drilling are only known by the Company and contractors/consultants under appropriate confidentiality agreements.
• Data is stored on secure servers with access limited to TMG’s geological team.
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