"Dear Jill Consolidated Tin Mines Limited – Request for Extension to Voluntary Suspension
With respect to the voluntary suspension granted to Consolidated Tin Mines Limited ("the Company") on 29 June 2016, the Company advises that negotiations with stakeholders and interested parties regarding its working capital position are continuing.
Further, the Company advises that given the current working capital finalization delays its mining assets are currently held in a maintenance shutdown and that exploration programs on its permits have ceased.
Pursuant to ASX Listing Rule 17.2, the Company requests an extension of voluntary suspension of its securities from ASX until Friday 15 July 2016.
In accordance with Listing Rule 17.2 the Company advises:
1. The suspension is necessary to allow the Company to pursue negotiations regarding its working capital requirements and funding options. The Company advises that should the company be unsuccessful in its efforts in relation to this matter it will advise the market immediately as to the outcome of these ongoing discussions.
2. The Company expects the suspension to continue until the earlier of the commencement of trading on Friday 15 July 2016, or an announcement is made.
3. The Company expects the suspension will end upon the Company making an announcement to the market regarding the outcome of its negotiations.
4. The Company is not aware of any reason why its securities should not be suspended.
5. The Company believes there is no other information necessary to inform the market about the suspension request.
Yours sincerely
Martin Cai
Director/Company Secretary"
As I thought.
I think it is now time for the co to come out with an update. It will be difficult given the discussions under way being on wc requirements but we have previously been told that the only thing outstanding was FIRB approval.
This, at the very least IMO, ought to be clarified.
CSD Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
