Yes, so much progress and against the odds. The second condition...

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Justadabble

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15/03/23

23:02

Post #: 66789315
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Originally posted by Soulcollector: ↑

JD it is indeed fabulous news if in fact MEC can retain PDF status. From my vague recollection the ASX have stated that MEC need to retain this status or it is in breach of the original listing of the company and it would have to be delisted and could not carry on as a company without it. From memory the ASX stated that there were two conditions to MEC suspension being lifted allowing MEC to trade again. First was the PDF reinstatement and the other I am having difficulty remembering (the old memory is not what it used to be). Was it something to do with the shakey financial position the company presently finds itself in? I am pretty sure it was in a company announcement …..I will have a good look tomorrow.

But….to my mind the PDF reinstatement was the big one because without it the company cannot come out of suspension. The company funds situation would be solved with a capital raising IF they can get the go ahead to drill. Still a lot of BIG hurdles to go but to my mind the PDF status was a BIGGIE.

Still we seem to be in a shite load better position than when ************ Scottie denied procedural fairness on the PEP 11 application

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Yes, so much progress and against the odds. The second condition to relisting was PEP-11 being approved. I think David has a strong case to put to the ASX (should the CR be successful) that PEP11 being in good condition is adequate for re-instatement purposes. I still haven't seen the published decision on the PDF case but it seems David has had a huge win.

MMR Price at posting: 0.4¢ Sentiment: Buy Disclosure: Not Held
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