Ann: Continuation of Suspension, page-88

http://asic.gov.au/about-asic/media...tements-in-the-mining-and-resources-industry/

Wednesday 12 October 2016
16-349MR ASIC clarifies guidance for forward-looking statements in the mining and resources industry

The matters clarified in revised INFO 214 are:

• forward looking statements have always under law been required to be based on reasonable grounds, and INFO 214 does not change this position;

• production targets and forecast financial information can be published even if secured funding is not in place - but a company still needs to be able to demonstrate 'reasonable grounds' that it could obtain the requisite project finance as and when required;

• production targets and forecast financial information can be published based not only on ore reserves but also on mineral resource estimates - provided they have 'reasonable grounds' for that estimated mineralisation, and each of the JORC Code modifying factors; and

• a company that does not have reasonable grounds for forward-looking statements and therefore cannot make statements of this kind should still disclose reliable and relevant information of a technical nature (for example, from scoping studies) to ensure the market is properly informed of the company's prospects.

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As for the second point - are Minjar on ASIC's watch list?
Future graphite sector demand is well known in the public domain - so it's not like trying to raise funds for a thermal coal mine.
Would a company just now say they will go to the banks and/or raise capital on the market (sic).

The last point seems to suggest that perhaps the details submitted by the company, didn't meet the level of technical detail now required.

The company owes us an explanation as to why this scoping study was delayed (once it is finally approved) - without trying to offend anyone.
IMHO