Financial stability is listing rule 12.2, that would not be the issue. This is about listing rule 12.1, and it is irrespective of how much cash the company has. If the company sells their main asset even if they have other minor interests the ASX will suspend them on the basis of that listing rule. There are so many examples of this, Leo Lithium is probably the most recent one. They are in a race against time to find a new asset before they hit the 2-year suspension time limit from the ASX, after which they'll be removed from being a listed entity. They currently have A$269,306,000.
It doesn't matter how much cash a company has, if the ASX deems they don't have sufficient basis to warrant the ongoing quotation of their shares they will suspend it until the company in question acquires a new asset/project.
GLN Price at posting:
15.5¢ Sentiment: None Disclosure: Not Held
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