How Did Lodestar Manage Disclosure of Ned’s Creek Assays and Arizona Acquisition?
Lodestar Minerals has responded to ASX queries clarifying the timing and disclosure of key assay results from its Ned’s Creek gold project and detailed the procedural steps behind its Arizona Mountain Pass rare earths acquisition.
- Clarification on timing of assay result awareness and disclosure
- No immediate announcement on 1m split assays due to prior composite results
- Detailed timeline and ASX approvals for Arizona Mountain Pass acquisition
- Company confirms compliance with ASX continuous disclosure rules
- Trading halts and cleansing notices aligned with regulatory requirements
Context of ASX Query
Lodestar Minerals Limited (ASX – LSR) has formally addressed an ASX compliance query regarding the timing and disclosure of significant assay results from its Ned’s Creek Gold Project and the procedural handling of a material acquisition involving Arizona Mountain Passage Heavy Rare Earths Pty Ltd. The company’s detailed response sheds light on its internal awareness of key information and the rationale behind its disclosure decisions.
Assay Results Disclosure
The company confirmed that its Executive Director and Head of Exploration, Coraline Blaud, first received the assay results on 11 November 2025. However, Lodestar did not immediately announce the detailed 1 metre split assays from hole LNRC0107, which had been previously reported in composite form on 15 October 2025. The company explained that since the market was already aware of significant gold intercepts from this hole, and the new data confirmed rather than materially changed the prior results, a trading halt was deemed unnecessary.
This approach reflects a nuanced interpretation of continuous disclosure obligations, balancing timely market updates with the need to avoid unnecessary announcements that do not materially alter the investment thesis.
Acquisition and Capital Raising Timeline
Regarding the acquisition of Arizona Mountain Passage Heavy Rare Earths Pty Ltd and the associated Virgin Mountain Pass project, Lodestar outlined a clear timeline of events. Initial in-principle advice from ASX was sought in late September 2025, with formal approvals granted by late October. The company only announced the transaction and a $3.25 million placement after legally binding documentation was executed and ASX approval was secured, following a trading halt to ensure orderly market disclosure.
This careful sequencing underscores Lodestar’s commitment to regulatory compliance and market transparency, particularly given the material nature of the acquisition and its potential impact on the company’s strategic direction.
Market Impact and Compliance Confirmation
The company acknowledged share price movements coinciding with announcements but attributed these primarily to the release of significant gold intercepts rather than the acquisition discussions, which were still subject to ASX approval at the time. Lodestar also confirmed that all cleansing notices and option conversions were appropriately timed and that no related party issues arose from share issuances.
Importantly, Lodestar reaffirmed its compliance with ASX Listing Rule 3.1 and its continuous disclosure policy, with all responses to the ASX query authorized by the full board.
Looking Ahead
As Lodestar advances its exploration and integration of the Arizona rare earths project, market participants will be watching closely for further assay results and operational updates. The company’s transparent handling of disclosure obligations sets a positive precedent as it navigates growth in both gold and rare earth sectors.
Bottom Line?
Lodestar’s detailed ASX response reinforces its disciplined disclosure approach amid significant exploration and acquisition milestones.
Questions in the middle?
- Will further 1 metre assay results from Ned’s Creek alter the market’s perception of the project’s potential?
- How will the Arizona Mountain Pass acquisition influence Lodestar’s strategic focus and financial outlook?
- What are the next regulatory or operational milestones investors should monitor closely?
