Blackstone Minerals Limited has responded to recent market inquiries regarding the move in its share price from a closing figure of $0.076 on 4 June 2025 to a high of $0.095 on 6 June 2025. In its detailed response, the company confirmed that no undisclosed information exists that could have triggered the strong trading activity. Instead, it attributes the price change to market anticipation surrounding the near completion of a Scheme of Arrangement with IDM International. This sentiment follows the recent shareholder meeting, held on 4 June 2025, during which the merger received approval, and with a subsequent IDM International shareholder meeting scheduled for 10 June 2025. The company also provided insight into its ongoing exploration program. Specifically, for drill hole CDH-62A, sampling has not yet been completed and the assays remain pending. Blackstone Minerals Limited assured that once sampling is finalized, stringent governance measures will be applied to maintain the confidentiality and security of the assay results through a controlled chain-of-custody system. The board confirmed that all responses have been authorised in line with its continuous disclosure policy and that the company remains fully compliant with applicable listing rules. From a bullish perspective, the market could view the anticipated merger as a catalyst for future growth. The shareholder support demonstrated at the recent meeting and the nearing completion of the Scheme of Arrangement may drive investor confidence. Additionally, the strict governance protocols and adherence to listing rules offer a layer of transparency and operational discipline, which can further bolster market sentiment. Conversely, from a bearish standpoint, the absence of completed sampling and pending assay results introduces a degree of uncertainty. Investors may be cautious about placing significant bets without concrete exploration data, and the price spike could reflect speculative trading rather than strong fundamentals. The upcoming IDM International shareholder meeting will be closely watched, as it will further clarify the prospects of the merger and any subsequent impact on the company’s valuation.