Read the Lines · Reading Announcements
Read the announcement,
not just the headline.
ASX announcements can contain contracts, guidance, capital raisings, drill results, clinical milestones and dozens of other forms of new information. Learn how to separate what genuinely changed from promotional language, conditions, headline values and details that still depend on future events.
Strong news and a strong chart are different questions. First understand the announcement. Then observe how the market responds.
The first question
What actually became different today?
A good announcement read starts by separating the new fact from the company’s interpretation of that fact. Is there a signed agreement? Cash received? A regulatory decision? A new assay result? Updated guidance? Or simply a plan, intention, meeting or future milestone?
The distinction is often more important than the adjective in the headline.
Announcement library
Different announcements need different questions.
How to Read an ASX Announcement
A repeatable first-pass framework for separating the headline, new information, materiality, conditions and market response.
What Does Price Sensitive Mean?
What the ASX label tells you — and why market sensitivity does not tell you whether the news is good, bad or fairly priced.
Contracts: Binding, Conditional & Headline Value
Customer identity, term, conditions, revenue significance and why “up to” contract values need careful reading.
Capital Raisings & Dilution
Placements, entitlement offers, issue price, dilution, runway and the difference between funding growth and funding survival.
Results, Guidance & Cash Flow
Revenue, EBITDA, cash generation, upgrades, downgrades and why record numbers can still disappoint expectations.
Exploration & Drill Results
Grade, interval, depth, true width, continuity and why one spectacular intercept is not the same as an economic resource.
Biotech, Clinical & Regulatory Milestones
Trial phases, endpoints, safety, regulatory meetings and approvals — what a milestone actually achieved and what still remains.
The BowerLine rule
Headline → evidence → conditions → scale → response.
Read in that order. A positive-sounding headline can describe an early-stage event. A modest headline can contain a major earnings change. The job is to identify the actual new information and measure it against the size and situation of the company.