getting back yesterday's loss & more, page-6

No imminent listing. Such would need to be disclosed well in advance to the ASX, as well as securing shareholder approval.

Reasons:
1/
If as ADRs, then a certain amount of the stock would need to be taken away and reserved for Nasdaq listing purposes. This would also require a USA depository source (ie: Bank of America, for instance). Unlikely, given the small number of shares currently on issue.
2/
Alternatively, a different class of securities would need to be established. Again, unlikely, due to the inconsistencies involved in trying to understand the vagaries of 2 different classes of security.
3/
A complete Nasdaq listing would, however, require relocation to the USA. This would require a myriad of regulatory /compliance approvals, all of which would take 12-18 months to achieve (conservative estimate).
4/
Trading OTC (over the counter) is a lot easier given the small amounts of stock involved. A Nasdaq listing, however, would likely require a 20-25% reservation of stock, given that the Nasdaq typically requires US$100MC or better in order to justify a stateside listing. Currently, SLX is capitalised at A$330M, or US$248M. Therefore, >40% of the currently issued share capital would need to be reserved for a Nasdaq listing to proceed.

In due course, perhaps in several years, a Nasdaq listing could well beckon. But not in 2006, even if talk of such a possibility were to start up in earnest.

Listing on the Nasdaq is not like listing on London's AIM. Big money and big MC's are required for Nasdaq listing purposes, and until late September, SLX's entire MC would have been required in order to support such a listing. It is, therefore, still very early days, with SLX still likely to trend back towards the low-$2.00 levels in the near future. Just my views.