I've written a heap of listing documents across a lot of Exchanges over the years and not Mickey Mouse stuff, either. The problem with NYSE is Ch12, which introduces a heap of personal risk for directors. There are no Resources, only Reserves, which are signed off by an accountant (believe it or not). Although, each Administrationintroduces it's own interpretation and I understand that Trump is looking to introduce the SME Code (which is the same as JORC/NI43-101/CIM).
That's why North American companies list in Toronto or Vancouver, each of which bring in even more stringent compliance than ASX Ch5, in the form of NI43 101/CIM. And I can tell you that Haoma's not going to meet that hurdle, even under a Vancouver Class 2 or 3 listing.
So the question Gary must answer within himself is: "is this a mining company or an industrial, with a patented process and (unquantified) feedstock.
Even London's AIM is highly regulated these days.
My personal view is that it is not hard: re-list on ASX and present a supported JORC Table 1 for Bamboo Creek and the Elazac process. Compliance is all about transparency and materiality. Express the results meaningfully, with support and there's no problem and let the market decide.
HAO Price at posting:
23.0¢ Sentiment: None Disclosure: Held
