Todays announcement states in part that .....
" The determination relates to the Company's announcement on 12 August 2016 entitled 'Pre-Feasibility Study for the Isabel Nickel Project' which was retracted by the Company on *16 August 2016, and other statements regarding its activities in relation to the San Jorge and/or the Kolosori tenements which were clarified in the Company's supplementary prospectus dated *28 March 2017. " !!!!!!
The ann on the *16th of August 2016 stated in part that ........
Extract
" Under ASX Listing Rules, Axiom is not allowed to publish the PFS details without having possession of the Kolosori tenement or presenting the historical data on the San Jorge deposit until further studies are completed to upgrade the classification.
As such investors should not rely on production targets and financial forecasts as stated in the PFS announcement, which has since been retracted, and which remains for the Company’s internal purposes only."
http://www.asx.com.au/asxpdf/20160816/pdf/439bs4hsjzxz94.pdf
so the determination came about after clarification on the *28th March 2017 with the announcement lifting the interim stop order ... a stop order that was put in place to prevent the RI going ahead based on information that was suspect
Extract
" To use a stop order, we must also believe that the situation is materially adverse from the point of view of the investor. For more information see Regulatory Guide 254 Offering securities under a disclosure document"
http://asic.gov.au/regulatory-resources/fundraising/stop-orders/
and the reason for that stop order
http://www.asx.com.au/asxpdf/20170309/pdf/43gntnsjfjx2hs.pdf
AS per todays ann ASIC determined that on *28th March 2017 AVQ clarified its position, just so happened that that date and the lifting the interim stop order that was put in place because they believed the company sup prospectus was suss .... are one in the same ..... funny that
SO ...... the *28th of March 2018 being 12mths after the 28th March 2017 mentioned in todays ann is basically IMO ASIC issuing AVQ a 12mth good behaviour bond regarding disclosure for when/if they put their hand out to the shareholders for fund in the interim ..... simple as that![]()
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Ann: s713(6) determination, page-6
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