Looking at the Sundance Resources' situation, AVZ may need to provide additional information before relisting. Sundance's delisting occurred due to the loss of their mining permit without a visible plan for its reinstatement (refer to the announcement below). If AVZ face similar scrutiny from the ASX, management may need to define a clear strategy to having the ML reissued.
If the ASX perceives AVZ's operations as uncertain with no tangible prospects beyond legal disputes, they might not meet the relisting criteria, if what happened to Sundance is any guide.
I'm no expert on listing rules, but it seems reasonable that if a company has no business prospects and its sole activity is litigation, the ASX wouldn't approve its relisting.
Management might see a brighter future once the new DRC cabinet takes over. However, they may need to convince the ASX that the incoming DRC ministers will pave the way forward to having the licence reissued.
Let's hope the new DRC ministers are more open to reinstating the ML. But with Felix still in charge, it's just hope, I'm not very optimistic about them cooperating.
Sundance Announcement Key to Sundance being able to meet the ASX requirements was for Sundance’s subsidiary Congo Iron SA (“Congo Iron”) to have a mining permit over the Nabeba iron ore project in the Republic of Congo (“Congo”). With the loss of the mining permit in Congo, as announced on 16 December 2020 and later updated on 21 December 2020, Sundance did not have any prospects of being able to satisfy the ASX requirements.
AVZ Price at posting:
78.0¢ Sentiment: None Disclosure: Held
