Pursuant to ASX Listing Rule 17.1 the Company requested a trading halt yesterday in response to an update appearing on the website of the Advanced Lignite Demonstration Program (ALDP) stating the process had been finalised and letters of offer had been sent to successful applicants.
In the absence of any communication from the government in relation to this status update the Company sought clarification.
The government has responded to our request for clarification and confirmed that:
- The posted information has now been removed from the website
- The ALDP selection process has not been completed
- No applicant to the ALDP has been advised of any outcome from the program
The Company elected to enter a trading halt on the basis it believed the information on the government website could have led to a false market due to it appearing on an official source without matching confirmation from the Department. The trading halt was lifted this morning at the request of the Company.
The Company continues to await the outcome of the ALDP, a joint state and federal initiative established to provide support funding to Companies, toward the cost of demonstrating pre-commercial lignite upgrading technologies, that otherwise could not proceed. The successful demonstration and subsequent commercialisation of low or zero-emission upgrading technologies on Victoria’s vast lignite reserves clearly supports economic, energy and climate security.