How has the ASX allowed this to be posted?Have a look at their...

How has the ASX allowed this to be posted?

Have a look at their history below - they were meant to commence ops in the middle of 2012 in Mongolia; now they are saying that it will 'take a little more time'.

No wonder half of their former directors (and still current major shareholder) were in front of ICAC. Completely misleading statements have been released since the start of January 2012 - what faith does anyone have that they will stay true to their word this time? How can they publish an internally derived NPV on their project? Where is the credibility?

Long list of this...

- Mining operations were meant to commence in mid 2012 (January 31, 2012)

- Acquire a project for a very expensive price from themselves (Springsure acquisition, 2nd April 2012)

- "All necessary licensing and approvals for mining, transport and export of coal from South Gobi will be in place mid 2012" (20 April 2012)

- "Confirmed start up schedule with mining to commence north pit in September Quarter of 2012, with first production forecast for late November 2012" (11th September 2012)

- "Mining licence granted, and forecast production for late November 2012" (15th October 2012)

- "Constuction underway with mining forecast for late November 2012 despite some delays" (19th November 2012)

- "Guildford remains confident of a successful 2013 with coal production and positive cashflow....minor delays encountered". Final coordinates were now to be agreed, which would then ratify the permit (9th January 2013)

- Mobilisation of earthmoving contractors into the South pit; activities are concentrated on the North pit, focused on excavation of test pits, stripping of overburden etc, progressively ramping up through April/May (28th March 2013)

- "Stripping to expose coal remains scheduled for end of May at North Gobi" (30 April 2013)

- "Production activities at South Gobi have commenced" (30 May 2013)

- "Excavation of 2 additional standard type test pits; visits by offtake partners expected August; construction activities for mine site to commence July" (4 July 2013)

- Investor Presentation stated "Coal extraction to commence in Q4 2013; coal haulage to commence in 2013, on unsealed haul road....sealed road to be built in April 2014" (26 August 2013)

- Announced that they had received Mongolian Government approval to construct 98km haul road connecting North pit with China border; allowing them to immediately commence road construction project. Coal sales expected to commence January (7 October 2013)

- Road scheduled for 15 Dec completion, with 70% construction complete (19th November 2013)

- Haul road completed (23rd December 2013)

- BNU (North Pit) successfully commissioned for ops and sales by Mongolian Government (7 Feb 2014). Requires final permit of coal transport company.

- Company announces that the haulage permit is still yet to be granted (13th May 2014). Bulk testing 'cannot be completed' without road permit. Am I safe in assuming this means they havent even tested the coal?