Ann: Terms Sheet signed to acquire Mongolian coal, page-20

re: Ann: Terms Sheet signed to acquire Mongol... purring1 - this is certainly not advice, but my thoughts only - it is my understanding that a company can remain suspended indefinitely (provided that it remains solvent).

The suspension notice indicates that the company will remain in suspension until it is in compliance with chapters 1 and 2 of the listing rules. There are a whole range of conditions defined in these listing rules which need to be satisfied before the suspension can be lifted - the most obvious to me appear to be that the company must be a going concern and must have a certain level of net assets. If you recall, there was a prospectus back in July 2011 to raise $5m. This capital raising was necessary to assist compliance with these rules - as noted on page 4 of the 2012 annual report "recompliance prospectus etc etc offered 25 million shares at 20c blah blah blah...THE COMPANY RAISED NO FUNDS PURSUANT TO THE PROSPECTUS" (emphasis added, duh).

The going concern issue, as noted by a previous poster, is obviously an issue and has been flagged by the auditor (page 45 or 46 "material uncertainty which may cast doubt about the company's ability to continue as a going concern..."). If the company is insolvent, I believe the directors are obliged to appoint administrators.

A director commits an offense if they were aware that the company was insolvent at a time they incurred a debt, or if the company becomes insolvent as a result of incurring that debt, or the director did not prevent the company from incurring that debt.

The situation needs to be resolved one way or another. I only have a pitiful little holding and would be satisfied at this point to see the company wound up so I can claim the loss. Still, I'd rather have my money back of course, but I don't hold any hope for that. Apologies to those who have more to lose from such a scenario and obviously wouldn't share this sentiment, I do feel for you.