Why Is Latitude 66’s Stock Surging? JV and Assay Updates in Focus

Background to the ASX Price Query

Latitude 66 Limited (ASX, LAT), a copper and gold exploration company, recently faced an ASX price query following a notable jump in its share price and trading volume over two consecutive days in early September 2025. The ASX sought clarity on whether LAT was aware of any undisclosed information that could explain this market activity.

Company Response and Market Context

In its formal response, LAT categorically denied possessing any material, non-public information that might have triggered the trading surge. Instead, the company pointed to prior announcements, notably the July 31, 2025, disclosure that Carnaby Resources Limited was exercising its right of first refusal to acquire LAT’s remaining 17.5% interest in the Greater Duchess Copper Gold Joint Venture. LAT emphasized that this transaction had already been foreshadowed and thus should not be considered new material information.

Additionally, LAT referenced recent assay results from its Edjudina Project, including drilling at the Falcon, Hercules, and Spartan South prospects. While these results were newly received and under review, the company judged them to be non-material and therefore not a driver of the recent trading activity. LAT also noted ongoing work at the Piastri Project, highlighted in a recent LinkedIn video update, but again deemed this information non-material.

Compliance and Disclosure Assurance

LAT confirmed full compliance with ASX Listing Rules, particularly continuous disclosure obligations under Listing Rule 3.1. The company’s response was authorized by its board or delegated officers, underscoring its commitment to transparency and regulatory adherence. LAT also indicated no plans to request a trading halt, as no confidential information had been compromised.

Market Implications and Investor Sentiment

Despite LAT’s assurances, the market’s reaction; reflected in the share price increase and volume spike; suggests investors may be speculating on the imminent completion of the Carnaby joint venture transaction or anticipating further positive assay results. The timing of the transaction’s formal completion remains uncertain, which could be fueling cautious optimism or speculative trading.

Investors and analysts will likely watch closely for forthcoming announcements that provide more definitive updates on the joint venture sale and detailed assay interpretations. LAT’s ability to manage market expectations while maintaining regulatory compliance will be critical in the coming weeks.