I think it is time to set out what is required, per ASX, before...

I think it is time to set out what is required, per ASX, before we can relist.

I have copied and pasted below the Reinstatement Conditions starting at page 61 of Notice of General Meeting at Post #: 32094607.

I have gone through it and, IMO, the key time-consuming stuff has been done with the following exceptions at para 25(g) to (i).

"(g) The Company’s pro forma balance sheet following completion of the Recapitalisation.
(h) The Company’s updated statement of commitments based on the completion of the Recapitalisation.
(i) A consolidated activities report setting out the proposed business strategy for the Company including Business and Assets and current activities."

There are some other stuff but I think they are simple and straight-forward.

Once 25(g) to (i) are completed (plus an exploration summary) we should be in a great position to assess the company's position and potential.

Would appreciate any thoughts.

"SCHEDULE 2 - REINSTATEMENT CONDITIONS
1. Confirmation that the DOCA has been fully effectuated and the Company is not subject to any other forms of external administration, receivership or liquidation.
2. Despatch of a Notice, containing disclosures about the Recapitalisation to the satisfaction of ASX.
3. The Company’s shareholders approving all the resolutions in the Notice to be considered at a general meeting of shareholders, including (but without limiting the foregoing):
(a) 3.1. Shares issued to convertible noteholders;
(b) 3.2. Shares issued to lenders;
(c) 3.3. Shares issued with respect to outstanding fees;
(d) 3.4. Shares issued with respect to unpaid salaries;
(e) 3.5. Share issues to raise capital; and
(f) 3.6. All other issues of securities
collectively the Share Issues.
4. Confirmation of completion of the Share Issues and any other matters that require completion pursuant to the Notice and the transactions contemplated therein;
5. Confirmation that the Company has released a full form prospectus for the purposes of s710 of the Corporations Act in relation to the proposed capital raising, and that such offer has closed having satisfied its minimum subscription requirement.
6. Confirmation in a form acceptable to ASX that the Company has received cleared funds for the complete amount of the issue price of every security allotted and issued to every successful applicant for securities under the capital raising.
7. Confirmation that, except for the Baal Gammon site, the Company retains the businesses and assets (other than cash) that it held prior to the appointment of the Administrators on 19 July 2016, including any businesses and assets held on trust for the Company pursuant to the asset sale agreement dated 24 October 2014 and settled on 19 April 2016 entered into between the Company, SPM, SPII Surveyor Mining Pty Ltd and Colinacobre Pty Ltd ("ASA") and prior to legal transfer being completed ("Business and Assets"), and that none of these assets formed part of the deed funds established pursuant to the DOCA.
8. Confirmation of completion of the ASA and the effectuation of the legal transfer of all of the business and assets of SPM as outlined in section 14 of the Report to Creditors of the Company dated 15 November 2016, including the payment of outstanding stamp duty to the Queensland Office of State Revenue with respect to the ASA.
9. Confirmation that the Company’s secured creditors have released and discharged any security granted to them by the Company and there are no outstanding security interests over the Company’s assets and that the Company’s secured creditors have no further interest in the Company’s assets.
1886051_3 62
10. Confirmation of the completion of all agreements required to complete the recapitalisation of the Company.
11. An update on the status of all litigation with respect to the Company.
12. The Company’s shareholders approving all of the resolutions required to effect the Recapitalisation.
13. Confirmation of completion of the 1 for 10 consolidation of the Company’s capital.
14. The Company demonstrating compliance with Listing Rules 12.1 to 12.4 inclusive, to the satisfaction of the ASX, as set out below.
(a) The Company satisfies the requirements of Listing Rule 12.1.
(b) Confirmation of completion of the Company’s Recapitalisation that, after payment of the costs of the capital raising (if any) and payments to the deed administrators to satisfy obligations under the DOCA, the Company can demonstrate to ASX that it will have aminimum of $1,000,000 in cash, net of all liabilities, at the date of reinstatement, to satisfy listing rule 12.2.
(c) 1The Company’s level of shareholder spread will satisfy the requirements of Listing Rule 12.4, with there being at least 300 holders each holding at least $500 worth of fully paid ordinary shares (such calculation to be based on the price at which the Company raises capital as part of the Recapitalisation).
15. The Company will be required to lodge quarterly cash flow reports for at least the first 8 quarters after reinstatement, in compliance with listing rule 4.7B (a) ("Quarterly Report"). The Company’s first Quarterly Report will be due in the quarter following the date of the Company’s reinstatement.
16. Lodgement of all outstanding Appendices 3B with ASX for issues of new securities.
17. Reinstatement of the Company’s CHESS sub‐register.
18. The Company having a free float (as that term is defined in Chapter 19 of the Listing Rules) of not less than 20% at the time of its reinstatement to the official list.
19. Provision of copies of restriction agreements entered into by the Company, together with undertakings provided by a bank, recognised trustee or the provider of registry services, in relation to the restricted securities of the Company, if required.
20. Lodgement of any outstanding reports for the period since the Company’s securities were suspended and any other outstanding documents required by Listing Rule 17.5.
21. Lodgement of Director’s Interest Notices, being either Appendix 3Xs, 3Ys, or 3Zs, as required.
22. Confirmation that there are no legal, regulatory or contractual impediments to the Company undertaking its existing activities.
23. Payment of any ASX fees, including listing fees, applicable and outstanding.
24. Confirmation the securities to be issued following the Meeting have been issued, and despatch of each of the following has occurred.
1886051_3 63
(a) In relation to all holdings on the CHESS subregister, a notice from the Company under ASX Settlement Operating Rule 8.9.1.
(b) In relation to all other holdings, issuer sponsored holding statements.
(c) Any refund money.
25. Provision of the following documents, in a form suitable for release to the market.
(a) A statement setting out the names of the 20 largest holders of each class of securities to be quoted, including the number and percentage of each class of securities held by those holders.
(b) A distribution schedule of the numbers of holders in each class of security to be quoted, setting out the number of holders in the following categories.
1 ‐ 1,000
1,001 ‐ 5,000
5,001 ‐ 10,000
10,001 ‐ 100,000
100,001 and over
(c) A statement outlining the Company’s capital structure following the Meeting on a post‐issue basis and post‐consolidation basis.
(d) A statement confirming the completion of the ASA and the effectuation of the legal transfer of all of the business and assets of SPM as outlined in section 14 of the Report to Creditors of the Company dated 15 November 2016, including the payment of outstanding stamp duty to the Queensland Office of State Revenue with respect to the ASA.
(e) A statement confirming that the Company’s secured creditors have released and discharged any security granted to them by the Company and there are no outstanding security interests over the Company’s assets and that the Company’s secured creditors have no further interest in the Company’s assets.
(f) A statement confirming the completion of all agreements required to complete the recapitalisation of the Company.
(g) The Company’s pro forma balance sheet following completion of the Recapitalisation.
(h) The Company’s updated statement of commitments based on the completion of the Recapitalisation.
(i) A consolidated activities report setting out the proposed business strategy for the Company including Business and Assets and current activities.
(j) Full terms and conditions of all options on issue (if any).
(k) Full terms and conditions of any employee incentive schemes (if any).
(l) A statement disclosing the extent to which the Company will follow, as at the date its securities are reinstated, the recommendations set by the ASX Corporate Governance Council. If the Company does not intend to
1886051_3 64
follow all of the recommendations on its reinstatement, the Company must identify those recommendations that will not be followed and give its reasons for not following them.
(m) A statement setting out the number of securities subject to ASX restrictions and the restriction period applied to those securities, if applicable.
(n) A copy of the Company’s securities trading policy as required by Listing Rule 12.9.
(o) An update on all litigation with respect to the Company.
(p) A statement that there are no legal, regulatory or contractual impediments to the Company undertaking the activities the subject of the commitments disclosed in the Notice and the disclosure document issued for the Recapitalisation.
(q) A statement confirming the Company is in compliance with the Listing Rules and in particular Listing Rule 3.1.
(r) Any further documents and confirmations ASX may determine are required to be released to the market as pre‐quotation disclosure following its review of the prospectus and any ancillary documentation.
26. Confirmation of the responsible person for the purposes of Listing Rule 1.1 condition 13.
27. Payment of any other fees applicable and outstanding. The Company’s outstanding fees will be advised in due course.
28. Provision of any other information required or requested by ASX or satisfaction of any other conditions required by ASX including, but not limiting the generality of the foregoing, in relation to any issues that may arise (1) from ASX’s review of the prospectus to be issued by the Entity; and (2) from ASX’s review of the Entity’s financial reports."