I'm no longer a holder @Roybatty07 but if I was, I'd be...

I'm no longer a holder @Roybatty07 but if I was, I'd be concerned.

I'd be concerned that my directors were defying the ASX on a governance issue in a way that provoked the ASX to suspend trading.

That action would deprive me - and others - of the ability to sell - or buy - $PO3.

I would think this to be inappropriate, unacceptable.

I'd prefer that the ASX applied other disciplinary remedies, fines for example.

Now, the ASX doesn't say - nor do I know - whether it mainly communicates with Simon Lill or PuriflOH chairman, Carl le Soeuf.

I assume the key man is Lill because he's a director and company secretary. He's also in charge of shareholder relations.

We know that Simon Lill isn't opposed in principle to Appendix 4G disclosure because - as I've posted - he signed an Iris Metals 4G on June 16 last year.

Simon is chairman of Iris Metals.

He's also chairman of De Grey Mining.

I've checked De Grey's current annual report. It features a three page section headed 'Environment, Social  and Governance'.  Directors say that "responsible management" of ESG elements is "critical" for shareholders.

Does Simon really subscribe to this ESG policy? Does Carl le Soeuf? Are they 'on the same page' re governance principles?

I gather Carl thought it was a good idea not to convene any PO3 board meetings last year.

This suggests Carl is running PO3 as if it's a private company with a sole director. For a listed company it's unconventional, maybe unique. What if other ASX chairmen adopted a similar policy?  Would that be demonstrating 'good governance'?

The dilemma for Simon Lill is that he finds himself abiding by ASX governance rules in his roles at De Grey, Iris Metals and Nimy Resources yet defying ASX governance rules - perhaps at the behest of Carl le Souef - in his roles at PuriflOH.

Questions: Does the ASX have a 'little black book' for governance delinquents? Would any such book now include the names Simon Lill and Carl le Soeuf?  Has the ASX issued a 'Governance Alert' for any listed company directed by Simon or Carl?

I would think Simon Lill is well aware that he's a mining industry leader with a reputation to build...and to maintain.

De Grey Mining has a market cap of $2.3b. PuriflOH has a market cap of $6.9m.

De Grey's a unicorn'. PuriflOH's a 'minnow'.

If I was Simon Lill, I'd be asking myself a question: "Do I really need to be a director of PuriflOH?".