ASX
126 days, 10 hours ago 
CMX
Chemx Materials Limited
Extension of Voluntary Suspension
ChemX Materials Ltd requests an extension to its voluntary suspension as it is not yet ready to announce a Funding Update and Management Restructure.
Worse than expected
 
Delay expected
 
ASX
133 days, 10 hours ago 
CMX
Chemx Materials Limited
Extension of Voluntary Suspension
ChemX Materials Ltd requests an extension to its voluntary trading suspension as it finalizes a funding update and management restructure.
Delay expected
 
ASX
137 days, 10 hours ago 
CMX
Chemx Materials Limited
Suspension from Quotation
ChemX Materials Limited (CMX) has requested an immediate voluntary suspension of its securities pending an announcement regarding funding and management restructure.
Capital raise
 
ASX
139 days, 11 hours ago 
CMX
Chemx Materials Limited
Trading Halt
ChemX Materials Limited (CMX) has requested a trading halt pending an announcement regarding funding and management restructure.
Capital raise
 
ASX
144 days, 10 hours ago 
CMX
Chemx Materials Limited
Variation of Mercer Convertible Securities Agreement
ChemX Materials (ASX:CMX) has modified its convertible securities agreement with Mercer Street Global Opportunity Fund, adjusting conversion prices and extending maturity dates for convertible notes.
Capital raise
 
ASX
146 days, 3 hours ago 
CMX
Chemx Materials Limited
Notification regarding unquoted securities - CMX
Chemx Materials Limited (CMX) issued 2,000,000 unquoted options with a strike price of $0.06 and an expiry date of December 5, 2027, as part consideration for a corporate advisory mandate.
ASX
157 days, 7 hours ago 
CMX
Chemx Materials Limited
Constitution
Chemx Materials Limited (ACN 664 982 123) adopted a new constitution on November 28, 2024, outlining rules for share capital, shareholder meetings, director responsibilities, and other corporate governance matters.
ASX
158 days, 4 hours ago 
CMX
Chemx Materials Limited
Results of Meeting
Chemx Materials Limited's Annual General Meeting on November 28, 2024, saw all resolutions carried, with significant shareholder support exceeding 96% for each.
ASX
158 days, 6 hours ago 
CMX
Chemx Materials Limited
ChemX AGM Presentation
Australian high-purity alumina (HPA) producer ChemX Materials is on the verge of large-scale production, with its 24-tonne-per-annum pilot plant commencing early-stage commissioning in June 2024.
ASX
158 days, 6 hours ago 
CMX
Chemx Materials Limited
ChemX AGM CEO Address
ChemX Materials Ltd (ASX:CMX) announced its 24tpa 4N HPA Pilot Plant is 95% commissioned, with intellectual property well-advanced for global deployment, despite some recent delays.
Delay expected
 
Worse than expected
 
CMX 
Chemx Materials Limited 
ASX

Extension of Voluntary Suspension

Sentiment:
 Trading Suspension Update
 22 December 2024 5:25 PM

ChemX Materials Ltd requests an extension to its voluntary trading suspension as it finalizes a funding update and management restructure.

Delay expected
  The company's funding update and management restructure are taking longer than anticipated.  Negotiations with relevant parties have caused a delay in the announcement. 

Summary
  • ChemX Materials Ltd has requested an extension to its voluntary trading suspension.
  • The company is not yet ready to announce updates regarding its funding and management restructure.
  • Negotiations with relevant parties have taken longer than expected.
  • The extension is needed to prevent uninformed trading of the company's securities.
  • The company requests the suspension remain until the earlier of trading on December 27th, 2024, or the release of the announcement.
Sentiment

Score: 4

Explanation: The document indicates delays and uncertainty, which is generally viewed negatively by investors. The lack of specific details about the funding and restructure also contributes to a lower sentiment score.

Highlights
  • ChemX Materials Ltd has requested an extension to its voluntary trading suspension.
  • The company is working on a funding update and management restructure.
  • Negotiations have taken longer than anticipated.
  • The voluntary suspension is requested until the earlier of December 27th, 2024, or the release of the announcement.
Negatives
  • The company is not yet ready to announce updates regarding its funding and management restructure.
  • Negotiations with relevant parties have taken longer than expected, causing a delay in the announcement.
Risks
  • The delay in the funding update and management restructure could indicate underlying issues.
  • The extended trading suspension could negatively impact investor confidence.
Future Outlook

The company anticipates releasing an announcement regarding the funding update and management restructure, but the timing is uncertain.

Management Comments
  • The company continues to work through the process of its Funding Update and Management Restructure.
  • The extension to the voluntary suspension is necessary to prevent trading in the Company's Securities on an uninformed basis pending finalisation of the Funding Update and Management Restructure.
  • The Company is not aware of any reason the voluntary suspension should not be granted.
Industry Context

Trading suspensions are not uncommon when companies are undergoing significant changes such as funding rounds or management restructuring. This is to ensure fair and orderly trading of securities.

Comparison to Industry Standards
  • Many companies in the resource sector, particularly those in the exploration and development phase, experience similar delays in funding and restructuring.
  • It is common for companies to request trading halts or suspensions during sensitive negotiations to prevent market speculation.
Next Steps
  • The company will continue negotiations regarding the funding update and management restructure.
  • The company will either release an announcement or resume trading on December 27th, 2024.
Key Dates
  • 17 December 2024: Trading halt granted.
  • 23 December 2024: Date of request for extension of voluntary suspension.
  • 27 December 2024: Proposed date for the end of the voluntary suspension if no announcement is made.
Keywords
voluntary suspension, funding update, management restructure, trading halt, ASX, ChemX Materials
CMX 
Chemx Materials Limited 
ASX
Sector: Materials
 
Filings with Classifications
Capital raise
13 April 2025 9:55 PM
Insolvency Announcement
  • Benelong Capital Partners (BCP) recapitalisation proposal requires ASIC, ASX and shareholder approval.
Worse than expected
29 December 2024 5:48 PM
Trading Suspension Extension Request
  • The company is not ready to announce a Funding Update and Management Restructure, which is causing a delay in trading and is worse than expected.
Delay expected
29 December 2024 5:48 PM
Trading Suspension Extension Request
  • The company is delaying the release of the Funding Update and Management Restructure announcement.
  • The trading suspension is being extended due to the delay in the announcement.
Delay expected
22 December 2024 5:25 PM
Trading Suspension Update
  • The company's funding update and management restructure are taking longer than anticipated.
  • Negotiations with relevant parties have caused a delay in the announcement.
Capital raise
18 December 2024 5:08 PM
Suspension Announcement
  • The announcement is related to an update on funding, which could indicate a potential capital raise.
Capital raise
16 December 2024 5:06 PM
Trading Halt Request
  • The trading halt is pending an announcement regarding an update on funding, which could indicate a potential capital raise.
Capital raise
11 December 2024 5:11 PM
Financing Agreement Update
  • Mercer has approved ChemX to raise up to $500,000 in additional debt financing.
Delay expected
27 November 2024 9:50 PM
AGM Presentation
  • The commissioning of the 24tpa HPA Pilot Plant has experienced unforeseen delays in recent months, primarily due to the solvent extraction (SX) module awaiting electrical package installation.
Worse than expected
27 November 2024 9:50 PM
AGM Presentation
  • The announcement revealed unforeseen delays in the commissioning of the solvent extraction module of the pilot plant, pushing back the timeline for full operation.
Better than expected
13 November 2024 5:17 PM
R&D Funding Announcement
  • The receipt of the R&D refund exceeding the amount of the Radium Capital facility was better than expected, resulting in a surplus for working capital.
Capital raise
7 November 2024 1:19 AM
Price Query Response
  • ChemX is in discussions with third parties regarding potential capital raisings.
  • No formal agreements have been reached for any capital raising.
Capital raise
30 October 2024 9:06 PM
Quarterly Report
  • The company has appointed TritonLake as Corporate and Financial Advisors to assist with capital, financing and corporate advisory.
  • The company believes it would be successful with raising additional capital.
Worse than expected
30 October 2024 9:06 PM
Quarterly Report
  • The delays in the Solvent Extraction module of the pilot plant represent a setback from the expected timeline for commissioning.
Delay expected
30 October 2024 9:06 PM
Quarterly Report
  • Delays were experienced in the construction of the Solvent Extraction (SX) module due to longer than expected lead times on key process equipment and delivery of critical electrical infrastructure.
Capital raise
24 October 2024 6:10 PM
Notice of Annual General Meeting
  • The 7.1A mandate seeks shareholder approval to issue up to 10% of the company's issued capital in equity securities without further shareholder approval.
  • The funds raised under the 7.1A mandate are intended to be used for the 24tpa HiPurA high purity alumina (HPA) pilot plant and working capital.
Worse than expected
23 October 2024 5:19 AM
Annual Report
  • The company reported a net loss after tax of \$4.49 million, significantly higher than the previous year's loss of \$4.18 million, indicating worse than expected results.
Capital raise
23 October 2024 5:19 AM
Annual Report
  • The company raised \$1,616,600 through a share placement and share purchase plan.
  • A \$6,000,000 convertible note funding facility was secured, with potential for further equity dilution upon conversion.
Capital raise
30 July 2024 4:54 AM
Quarterly Activities Report
  • The company has applied for an advance from a funding provider against expected CMX FY24 R&D claim for circa $440,000.
  • The Company also has access to financial markets and believes it can successfully raise capital.
Capital raise
29 April 2024 7:02 PM
Quarterly Activities Report
  • The company completed a $1.1M placement.
  • A Share Purchase Plan (SPP) is ongoing, aiming to raise up to $500,000.
  • Directors have committed to subscribe for 1,354,166 shares, subject to shareholder approval, under the Placement to raise an additional $65,000 at the same issue price.
Delay expected
21 April 2024 7:10 PM
Share Purchase Plan Extension Announcement
  • The closing date of the SPP has been extended from April 23, 2024, to May 10, 2024.
Capital raise
2 April 2024 5:48 PM
Share Purchase Plan Announcement
  • The document mentions that it is highly likely that further funding will be required to meet the medium to long term working capital costs of the Company.
  • Any additional equity financing will dilute shareholdings, and debt financing, if available, may involve restrictions on financing and operating activities.
Capital raise
13 March 2024 2:33 AM
Interim Report
  • The company has access to a further $3,800,000 funding under its unsecured convertible note facility, subject to further agreement between the parties.
Worse than expected
13 March 2024 2:33 AM
Interim Report
  • The company reported a net loss of $1,911,696 for the half-year ended December 31, 2023, which is worse than breakeven.

Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.