Tawana Exploration Company Denies Lithium Battery Mining

On Monday, Tawana Exploration denied that posting information about material shipments in BaldHill's operations on social media violated the rules requiring information to be communicated to the market.

Tawana announced the Australian Stock Exchange's list of responses in response to reports in April that production and transportation of lithium-containing rocks began in Bald Hills, Western Australia.

The company believes that the shipping information is not new or unexpected, and can be reasonably interpreted as a prior periodic update to be offered to the market.

The JSE and ASX reporting rules force companies to notify the market of any developments that can reasonably be assumed to have a significant impact on their share price.

Lithium production in BaldHill, Western Australia began in March as speculations about the large amount of metal demand that may occur in the next few years as electric vehicle production increases.

It is reported that the company transports lithium-containing spodumene - which was subsequently released on various market platforms on April 19.

Tawana said that once it realized this, it would not take any action because it believed the market would expect such an event.

At 12 o'clock in the morning, Tawana shares fell 10.34% to R4.25. Although this share is usually not traded, it usually moves within such a range. By 2018, this proportion has fallen by 14.66%, followed by 322% in 2017.

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