Unauthorized Social Media Post Tests Tivan’s ASX Disclosure Compliance
Tivan Limited has responded to ASX inquiries about a social media post by its executive chair concerning fluorite exploration, affirming compliance with disclosure rules and pending assay results.
- Executive chair’s social media post on fluorite outcropping and sampling
- Preliminary observations without JORC-compliant assay data
- 88 samples collected with assay results expected in June
- Post was personal, unauthorized by the board
- Company confirms adherence to ASX continuous disclosure obligations
Background to the ASX Inquiry
Tivan Limited, an ASX-listed mineral exploration company, recently found itself under regulatory scrutiny following a social media post by its executive chair, Grant Wilson. The post, published on the platform X (formerly Twitter), suggested that there was significantly more fluorite outcropping than historical reports indicated and that 88 samples had been collected for assay by June. This prompted the Australian Securities Exchange (ASX) to issue an inquiry regarding compliance with continuous disclosure obligations.
Company’s Response and Clarifications
In its formal response, Tivan clarified that the statements in the post were based on preliminary field observations and internal exploration activities. Importantly, the company emphasized that these observations did not include any JORC-compliant data or quantitative estimates of mineralisation grade or abundance. The 88 samples referenced have been collected and are currently being processed, with assay results expected in June 2025.
Tivan also confirmed that the post was made on Mr Wilson’s personal account and was not authorized by the company’s board. The company maintains a Continuous Disclosure Policy requiring all material information to be released to the ASX prior to any public dissemination. The post did not contain information considered material or market-sensitive at the time, and Tivan was concurrently preparing an investor briefing and lifting a trading halt on 7 May 2025.
Compliance and Governance Considerations
The ASX’s inquiry focused on whether the post breached Listing Rules, particularly Rule 3.1 on continuous disclosure and Rule 15.7 on market release protocols. Tivan affirmed that no undisclosed material information existed at the time of the post and that it remains in compliance with all relevant Listing Rules. The company acknowledged the importance of these rules and committed to enhanced training for directors, officers, and employees to reinforce compliance, especially regarding social media communications.
Grant Wilson has since removed the post from X, and investors have been cautioned not to rely on the information contained therein for investment decisions. Tivan reiterated that any material exploration results or significant updates will be disclosed in accordance with the JORC Code and ASX requirements.
Looking Ahead
The pending assay results expected in June will be closely watched by investors and analysts for indications of the quality and extent of fluorite mineralisation. Meanwhile, the episode underscores the challenges mining companies face in balancing timely market communication with regulatory compliance in the age of social media. Tivan’s proactive engagement with the ASX and reaffirmation of disclosure policies aim to maintain investor confidence and regulatory trust.
Bottom Line?
Tivan’s next steps hinge on assay results and strengthened disclosure controls amid heightened regulatory vigilance.
Questions in the middle?
- What will the June assay results reveal about fluorite mineralisation quality and extent?
- How will Tivan enhance internal controls to prevent unauthorized disclosures on social media?
- Could this episode affect investor confidence or prompt further ASX scrutiny?
