Ann: Trading Halt, page-15

Looks like there are ways around it ! When you own the sandpit you can vary the sandpit rules - Lack of an Ore reserve and a DFS could also require some degree of massaging.


18.04 If a Mineral Company is unable to satisfy either the profit test in rule 8.05(1), the market
capitalisation/revenue/cash fl ow test in rule 8.05(2), or the market capitalisation/revenue
test in rule 8.05(3), it may still apply to be listed if it can establish to the Exchange’s
satisfaction that its directors and senior managers, taken together, have sufficient
experience relevant to the exploration and/or extraction activity that the Mineral Company
is pursuing. Individuals relied on must have a minimum of fi ve years relevant industry
experience. Details of the relevant experience must be disclosed in the listing document of
the new applicant.

Note: A Mineral Company relying on this rule must demonstrate that its primary activity is
the exploration for and/or extraction of Natural Resources