Oh dear this doesnt sound good to meASX ANNOUNCEMENT8 January...

Oh dear this doesnt sound good to me


ASX ANNOUNCEMENT
8 January 2007
The Manager
Company Announcements Office
Australian Stock Exchange Limited
4th Floor, 20 Bridge Street
SYDNEY NSW 2000
Dear Sir/Madam
ONGOING NEGOTIATIONS AND TRADING UPDATE
Australasian Resources Ltd wishes to advise that, as outlined in the Company’s AGM Notice of Meeting, the Company is making good progress on negotiations with several large international consortiums regarding both the short and long term funding arrangements for the Balmoral Project. The Company remains very confident of concluding partial or full funding in the near term.
Due to the nature of these negotiations, and a delay in complying with Chapters 1 and 2 of the ASX Listing Rules, the Company will not re-commence trading today as previously advised.
The Company is confident of meeting the ASX requirements in the near term and will provide an update on the expected date for commencement of trading as soon as possible.
Any queries can be directed to Darren Hedley on +618 9322 2288.
Darren Hedley
Managing Director