A reverse split of 1:25 would get you less than US $4, which is why I try to emphasize that NASDAQ deals in US dollars. 1:30 would get you there, just barely, but in the US a reverse split has a worse stigma than "foreign penny stock" -- just not something investors want to deal with.
You need to understand that the US has two court systems: state and federal. Decisions made by a federal agency, like the Bureau of Land Management, can be contested in federal court, where federal law applies. If the mineral rights are owned by the American people, administered by BLM, then the people of Wyoming (with less than 1% of the country's population) have very little say in how the laws are enforced. A Republican senator from Florida has little say in what laws are enacted, so some press release from Marco Rubio is irrelevant.
At Thacker Pass in Nevada, where BLM administered both surface and mineral rights, it denied a Canadian company an open-pit lithium mine. It had to be backfilled and restored to something like the original condition. Even that required a couple years in federal court for approval. In fact, it's still in court, at the appeals level.
The fanboys of AZL have been slandering me for years, accusing me of being someone I am not. They falsely claim I am a Colorado environmentalist lawyer involved in the Thacker Pass litigation. Like Nevada, but unlike Arizona, Wyoming is adjacent to Colorado. I have no idea whether environmentalists will try to protect scenery or residents of Halleck Creek, but I hope ARR is trying to find out. (Meanwhile, the AZL share price has dropped from 26 cents to 4.2 cents, because BLM is ignoring its application to drill and fill test holes.)
I agree that there could be a third party that through merger or acquisition could bootstrap ARR into NASDAQ. There is nothing in the announcement that even hints at this. I don't see much enforcement of what an ASX company can or cannot say, and get away with. For example, AZL claimed to have a patent on a DLE process, when it does not. No one has admonished them to stick to the facts. My memories of Australian travel include the TV commercials for pills to give children to improve their brain function. Maybe those drugs affect investors as adults.
If the plan is for the share price to reach 55 cents (or 55p as you write, are you British?) then apply for NASDAQ, then the company should say so. It should avoid the nonsense of "we're doing this immediately and hope to have it done by the end of the year."
(In reply to Josop90, who has blocked me from direct responses.)
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