Ann: Sustainability Report, page-8

"Pain in the ass but probably better off with a TSX listing."

Yes it would be....a pain!!

STM do not have COH to facilitate such a move. Implementation of redomicile will take 5-6months at a huge cost.
Many shers supers, SMSF, investment brokers and capital providers will not be able to facilitate redomicile due to their terms and conditions, many retail investors will not be set up for international trading and will they want too. Not to mention the caining the SP will take due to the shares dumped on market.

The TSX is twice the size of the ASX, extremely mining/exploration savvy, the Canadian mining industry towers over Australia's and the Canadian investors would not even rate STM as a boutique mine. Looking at past performance they would laugh at the "phenomenal results" portrayed by management. Also on past redomiciles moving forward the OS market will need 3-6 months to stabilize, announce good results in line with Canadian explorers.

Hope you realize that the ASX is one of the corrupt exchanges world wide. ASX have no control. The Shorting and Black Pooling in the last few days listed on the ASX could spell doom for a company with poor financial structure, low in ground value compared to Canadian peers and needing to CR again once relisted. Please don't tell me this practice dose not happen, yes it is still occurring.....now.
Expect the SP to finish in the low 1ct range. (0.005 if delist now) expect a consolidation as well due to TSX listing conditions. This will be a kick in the guts to the Long Australian SHER for at least 9-12months.

Positives.
Long term the TSX will have a better pool of investors, better and cheaper capital access and better correlation to similar explorers peers but we're talking medium term. Short term it will get ugly. Better to improve the capital structure, increase in ground value, improved leverage in the equity and good COH (at least 12 moths.... company costs, exploration and redomicile costs) Remember we are set to start 3 drilling programs early next year.

Lots to think about with a Redomicile with many regulatory hoops both in Canada and Australia before final court approvals, shareholders meeting, Scheme Packs, voting etc etc Redomicile could be an excellent move when the timing is right. Many ASX Co have had great success. Its about timing.

The Company has just appointed Mr Patrick Duffy, with extensive international leadership, mine development, financial and governance expertise both in Australia and US. There is a reason BOD elected to do so.

GL @borrks