not a capital raising here's why!

Under listing rule 17.2 if BQT were doing a capital raising when requesting suspension they would be required by the ASX to disclose this to the market.

As per the example of another company using the same rule and requesting suspension from trading below.



19 October, 2004

BEMAX RESOURCES NL - REQUEST FOR VOLUNTARY SUSPENSION



In accordance with ASX Listing Rule 17.2, the Company advises as follows:


Bemax is currently considering a proposal to raise equity funds, to fund the development of the Pooncarie Project. The proposed equity raising is being co-ordinated by Ord Minnett Limited;


Bemax requests a three day voluntary suspension effective from Wednesday 20 October to Friday 22 October inclusive to allow the details of the equity raising to be finalised in a thorough and orderly fashion. Bemax has requested this voluntary suspension following the trading halt that has been in place on Monday and Tuesday because the ASX Listing Rules restrict trading halts to two days only and it will take a longer period to finalise the details of the equity raising;


Bemax is not aware of any reason why the voluntary suspension should not be granted.


Bemax is not aware of any other information necessary to inform the market about the voluntary suspension of its shares.
Please do not hesitate to contact me should you have any queries regarding the above.

Yours faithfully

Lynette Jones
Company Secretary