Response to ASX Price Query
Released
Released
Announcement PDF
8 August 2025
Barbara Lim
Senior Advisor
ASX Limited
Level 40, Central Park
152-158 St Georges Terrace
Perth WA 6009
By email: ListingsCompliancePerth@asx.com.au
Dear Barbara,
West Coast Silver Limited (ASX:WCE) – Response to Price and Volume Query
West Coast Silver Limited (“WCE Silver” or the “Company”) received a price query letter from ASX on 8 August
2025 requesting information on the recent significant movement in its price and volume.
Request for information from ASX
In reference to the questions listed in the ASX letter:
1.
The Company is not aware of any information that has not been announced which, if known, could be an
explanation for the recent trading in the securities.
2.
This is not applicable as the answer to question 1 is no.
3.
The Company is aware of two (2) emails circulated by Next Investors and an article published this morning
by Next Investors titled “Our New Portfolio Addition: West Coast Silver (ASX:WCE)”. The Company confirms
that it has a paid commercial relationship with Next Investors for Investor Relations services, including the
preparation of investor material such as this article, and to promote the Company.
4.
This confirms that the Company is in compliance with the ASX Listing Rules and, in particular, with Listing
Rules 3.1.
5.
This response has been authorised by the Board of WCE Silver.
Responses to additional information requested by ASX
The responses to the additional questions raised by ASX with regard to the pending exploration results are as
follows:
(A)
Please advise whether any samples of the exploration programme that the company is currently
undertaking have been sent to the laboratory? If yes, please provide the exact date on which the
samples were sent to the laboratories.
On 11 June 2025, WCE lodged an announcement titled “Shallow mineralisation intersected at Elizabeth
Hill” based on the portable XRF (“pXRF”) readings 1, noting that additional assay results were pending.
Samples from 12 holes drilled in the Company’s inaugural Elizabeth Hill campaign were submitted to the
laboratory progressively between 6 June 2025 and 17 July 2025.
(B)
Please advise whether the company is expecting any results from the laboratories in relation to its
exploration programme, and if yes, please advise when the results are expected to be provided to the
company. Please provide detailed information in relation to the timing of these results.
The Company expects to receive the assay results within the next 2 to 6 weeks. However, the turnaround
time is subject to the laboratory’s capacity and scheduling, which are outside of the Company’s control.
1
Refer to the cautionary statement as disclosed in the ASX announcement dated 11 June 2025.
WEST COAST SILVER LIMITED
ASX | WCE
ACN: 155 472 834
REGISTERED OFFICE
Level 2, 10 Ord Street
West Perth, WA 6005
PO Box 1227, West Perth
WA 6872, Australia
info@westcoastsilver.com.au
+61 8 9322 3383
westcoastsilver.com.au
RESPONSE TO ASX PRICE & VOLUME QUERY
(C)
Please advise when the sampling was completed and when the samples were sent to the
laboratories.
On 11 June 2025 2, the Company advised the market that the core has been cut, and half-core samples have
been sent for laboratory assays which are expected to be returned within 6 to 8 weeks. Refer to the table
below for the sampling schedule.
Hole ID
(D)
Number of samples
Lab received date
Status
25WCDD001
25WCDD002
122
12/06/2025
Finalised and
announced on ASX
16 July 2025
25WCDD003
25WCDD004
126
20/06/2025
In progress
25WCDD005
25WCDD006
180
30/06/2025
In progress
25WCDD007
25WCDD008
129
07/07/2025
In progress
25WCDD009
25WCDD010
81
15/07/2025
In progress
25WCDD011
25WCDD012
163
22/07/2025
In progress
Multiple
119
27/07/2025
In progress
Gossan
samples/trenches
18
23/07/2025
In progress
Please advise what arrangements (if any) the company has in place to maintain confidentiality of its
assay results? Please provide detailed information.
The Company maintains confidentiality of assay results through standard contractual terms and
conditions with its laboratory service providers, consultants, and field geologists. These agreements
include confidentiality provisions restricting the use and disclosure of assay data to authorised Company
representatives only. Assay results are not released to any external party until the information has been
reviewed, verified, and approved for public disclosure in accordance with ASX Listing Rules.
Please contact me if you have any further questions.
Yours sincerely,
Bruce Garlick
Executive Chairman
West Coast Silver Limited
2
Refer to the ASX announcement dated 11 June 2025.
WEST COAST SILVER LIMITED
ASX | WCE
Page 2
8 August 2025
Ms Mindy Ku
Company Secretary
West Coast Silver Limited
By email
Dear Ms Ku
West Coast Silver Limited (‘WCE’): Price - Query
ASX refers to the following:
A. The change in the price of WCE’s securities from a close of $0.1425 on 7 August 2025 to an intraday high of
$0.18 today.
B. The significant increase in the volume of WCE’s securities traded today.
Request for information
In light of this, ASX asks WCE to respond separately to each of the following questions and requests for
information:
1. Is WCE aware of any information concerning it that has not been announced to the market which, if known
by some in the market, could explain the recent trading in its securities?
2. If the answer to question 1 is “yes”.
(a)
Is WCE relying on Listing Rule 3.1A not to announce that information under Listing Rule 3.1?
Please note that the recent trading in WCE’s securities would suggest to ASX that such
information may have ceased to be confidential and therefore WCE may no longer be able to rely
on Listing Rule 3.1A. Accordingly, if the answer to this question is “yes”, you need to contact us
immediately to discuss the situation.
(b)
Can an announcement be made immediately? Please note, if the answer to this question is “no”,
you need to contact us immediately to discuss requesting a trading halt (see below).
(c)
If an announcement cannot be made immediately, why not and when is it expected that an
announcement will be made?
3. If the answer to question 1 is “no”, is there any other explanation that WCE may have for the recent trading
in its securities?
4. Please confirm that WCE is complying with the Listing Rules and, in particular, Listing Rule 3.1.
5. Please confirm that WCE’s responses to the questions above have been authorised and approved under its
published continuous disclosure policy or otherwise by its board or an officer of WCE with delegated
authority from the board to respond to ASX on disclosure matters.
When and where to send your response
This request is made under Listing Rule 18.7. Your response is required as soon as reasonably possible and, in
any event, by no later than 11:00 AM AWST Friday, 8 August 2025. You should note that if the information
requested by this letter is information required to be given to ASX under Listing Rule 3.1 and it does not fall
within the exceptions mentioned in Listing Rule 3.1A, WCE’s obligation is to disclose the information
ASX Limited [[Listings]]
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ASX Customer Service Centre 131 279 | asx.com.au
‘immediately’. This may require the information to be disclosed before the deadline set out in the previous
paragraph and may require WCE to request a trading halt immediately.
Your response should be sent to me by e-mail at ListingsCompliancePerth@asx.com.au. It should not be sent
directly to the ASX Market Announcements Office. This is to allow me to review your response to confirm that
it is in a form appropriate for release to the market, before it is published on the ASX Market Announcements
Platform.
Trading halt
If you are unable to respond to this letter by the time specified above, or if the answer to question 1 is “yes”
and an announcement cannot be made immediately, you should discuss with us whether it is appropriate to
request a trading halt in WCE’s securities under Listing Rule 17.1. If you wish a trading halt, you must tell us:
•
the reasons for the trading halt;
•
how long you want the trading halt to last;
•
the event you expect to happen that will end the trading halt;
•
that you are not aware of any reason why the trading halt should not be granted; and
•
any other information necessary to inform the market about the trading halt, or that we ask for.
We require the request for a trading halt to be in writing. The trading halt cannot extend past the
commencement of normal trading on the second day after the day on which it is granted. You can find further
information about trading halts in Guidance Note 16 Trading Halts & Voluntary Suspensions.
Suspension
If you are unable to respond to this letter by the time specified above, ASX will likely suspend trading in WCE’s
securities under Listing Rule 17.3.
Listing Rules 3.1 and 3.1A
In responding to this letter, you should have regard to WCE’s obligations under Listing Rules 3.1 and 3.1A and
also to Guidance Note 8 Continuous Disclosure: Listing Rules 3.1 – 3.1B. It should be noted that WCE’s
obligation to disclose information under Listing Rule 3.1 is not confined to, nor is it necessarily satisfied by,
answering the questions set out in this letter.
Release of correspondence between ASX and entity
ASX reserves the right to release all or any part of this letter, your reply and any other related correspondence
between us to the market under Listing Rule 18.7A.
Yours sincerely
ASX Compliance
2/2
ASX Customer Service Centre 131 279 | asx.com.au
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