Tuas (ASX:TUA), Strickland Metals (ASX:STK) and EVE Health (ASX:EVE): Why Did the Day's Largest Percentage Falls Come With Company Disclosures?

Sonal Goyal

26 October 2026 09:37 PM AEDT

Tuas (ASX:TUA), Strickland Metals (ASX:STK) and EVE Health (ASX:EVE): Why Did the Day's Largest Percentage Falls Come With Company Disclosures?

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Key Highlights

Tuas (ASX:TUA), Strickland Metals (ASX:STK) and EVE Health Group (ASX:EVE) fell 30.50%, 29.63% and 26.67% as each touched a 52-week low on 26 October 2026.
Strickland and EVE each answered an ASX price query on the day, and Tuas disclosed a regulator notice.
Strickland and EVE each said in their replies that they hold no undisclosed information.

Tuas Limited (ASX:TUA) traded at $1.27, down 30.50%, Strickland Metals Limited (ASX:STK) traded at $0.038, down 29.63%, and EVE Health Group Limited (ASX:EVE) traded at $0.011, down 26.67%, after each touched a 52-week low during the Trading session on 26 October 2026. All three lodged announcements with the ASX on the same day: Tuas about a Singapore regulator notice, and Strickland and EVE in reply to ASX price queries.

Tuas: IMDA Show Cause Notice

Tuas said its Subsidiary Simba Telecom received a Notice to Show Cause from Singapore's IMDA at about 7:30pm Sydney time on Friday 23 October. The notice sets out allegations on spectrum use at about 133 and 92 sites, early deployment of indoor radio equipment, a production order and governance, and lists possible actions including financial penalties of up to the higher of 10% of relevant turnover or $1 million. The IMDA has made no decision, Simba's response is due on 16 November 2026 and Tuas will not comment further for now.

Possible regulatory actions include suspending or cancelling the spectrum right, a penalty of up to the higher of 10% of annual turnover of the relevant Business or $1 million, written orders, licence suspension or reduction, and modified licence conditions. Tuas said no findings have been made or confirmed and it does not intend to comment further.

Strickland Metals: Reply to ASX

ASX noted Strickland's move from $0.054 on 23 October to a low of $0.036 and a significant rise in volume. The company said it is not aware of undisclosed information and that the outcome of Serbia's 25 October parliamentary elections, won by the opposition Student List on preliminary results, may have influenced investor sentiment because its Rogozna Project is in Serbia.

The company's letter confirmed that its answers had been authorised under its continuous disclosure policy and that it complies with Listing Rule 3.1. It also reported cash and liquids of $72 million at 30 June 2026 in an exploration update on 16 September, which described a new large-scale target at Obradov identified by a magnetotelluric survey.

EVE Health Group: Reply to ASX

ASX noted EVE's move from $0.015 on 23 October to a low of $0.009, with a significant rise in volume. The company said it holds no undisclosed information and understands a Shareholder formerly associated with it may be disposing of their holding, which it considers may have contributed significantly to the trading. Its FY26 results, released on 31 August, showed Revenue down 33.53% to $1,153,101.

The ASX letter was issued under Listing Rule 18.7 and required a response by 2.30pm AWST on 26 October 2026. The company confirmed compliance with the Listing Rules, including Listing Rule 3.1, and that its answers were approved under its continuous disclosure policy.

About the Companies

Tuas Limited (ASX:TUA): Tuas Limited trades on the ASX as TUA, and its shares were at $1.27 on the day. The regulator notice concerns its Singapore subsidiary, Simba Telecom Pte Ltd.

Strickland Metals Limited (ASX:STK): Strickland Metals is an ASX-listed explorer headquartered in Perth, and the Rogozna Project in Serbia is its flagship asset. The company quotes a resource of about 9.25 million ounces of gold equivalent for the project.

EVE Health Group Limited (ASX:EVE): EVE Health Group's shares traded at $0.011 on the day, a level at which each tenth of a cent represents a large percentage move. The company reported revenue of $1.15 million for FY26.

Risks Across the Three Companies

Tuas faces an open regulatory process with potential penalties and licence consequences. Strickland's flagship project is concentrated in one country and its targets are undrilled. EVE reports lower revenue, a larger loss and potential further selling by a former associated shareholder.

Catalysts on Investors' Radar

Simba's 16 November response to the IMDA, Strickland's planned drilling of the Obradov target in coming months and EVE's next periodic reports are the identified items.

The three disclosures differ in kind. Tuas's is a regulatory notice with defined response dates, Strickland's is a reply that identifies an election outcome as a possible influence, and EVE's reply identifies share disposals by a former associated shareholder. In both replies the companies confirmed compliance with Listing Rule 3.1 and said their responses were authorised under their continuous disclosure policies.

Final Perspective

The three largest percentage falls in this group each came with a same-day company announcement. The disclosures describe a regulator notice, an election outcome cited as a possible influence and selling by a former associated shareholder.

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