E-mail to the ASX ...., page-3

Hi all,

FYI

Just received a standard response fro the ASX (not signed by Elizabeth). Looks more like some robot replied since this is the same text I used to receive when emailing about the OLD MBN ...

"Re: Mirabela Nickel Limited (MBN)

Thank you for your email of 21 October in which you raised concerns about recent price movements in Mirabela Nickel Limited and raised the question of whether a Price Query was warranted.

ASX very much appreciates people who take the time and trouble to bring to its attention potential cases where an ASX listed entity may not be complying with its obligations under the Listing Rules. It is an important source of intelligence that helps us to perform our role of monitoring and enforcing compliance with the Listing Rules.

We are writing to confirm that ASX is investigating this matter to determine if there has been a breach of its Listing Rules.

It is important to understand that there are various factors which affect a company’s share price, including those which are specific to a company, its operations and financial state and along with external factors that are not under the control of the company and directly affect the performance of that company and/or investor perception. The duration of the impact of these factors varies, encompassing any timespan from immediate to very long term. Whilst some of these factors fall within the continuous disclosure obligations imposed on listed companies by Listing Rule 3.1, there are others that do not.

Possible referral to ASIC

If ASX finds that a listed entity has committed a significant breach of the Listing Rules, it is required by law to refer the breach to the Australian Securities and Investments Commission (ASIC), so that ASIC can then consider whether or not it wishes to take criminal or other regulatory action in relation to the breach.

Under a protocol agreed with ASIC, ASX is required to keep information about such referrals strictly confidential. Accordingly, we will not be able to tell you if we refer the issues you have raised regarding Mirabela Nickel Limited to ASIC or about any action that ASIC may be taking in response.

You should note that if we are obliged to refer this matter to ASIC, we may have to pass across to ASIC your personal details, as well as the other information that you have provided to us about this matter.

Other possible action by ASX

If ASX finds that a listed entity has breached the Listing Rules, in addition to referring
the matter to ASIC, it may take action of its own accord to redress that breach.
Sometimes that action will be made public through market announcements by ASX or
by the listed entity. Other times, it may not be made public.

Further information about the types of action that ASX may take against a listed entity
for breaching the Listing Rules is available on our website at:

http://www.asx.com.au/documents/about/listing-rules-enforcement.pdf

It is our policy, for confidentiality and other reasons, not to notify an informant or
complainant who raises with us a possible breach of the Listing Rules of the outcome
of our investigation into the matter. If the matter is to be dealt with publicly, a market
announcement will be made in due course so that the entire market is aware of the
way in which it has been dealt with. Otherwise, the investigation and its outcome will
remain confidential.

Accordingly, if you do not see a market announcement about the issues you have
raised, you should assume either that our investigation has concluded that there was
no breach of the Listing Rules or, if there was, it has been dealt with to our
satisfaction on a confidential basis.

Rest assured that we take our obligation to monitor and enforce the Listing Rules very
seriously and if we find that Mirabela Nickel Limited has breached its obligations
under the Listing Rules, we will take appropriate action against it."