I've been involved in a few prolonged suspensions and have never seen a company subsequently delist (although I do agree, the SP generally tanks on the resumption of trading)
ASX only really has the power to delist in the most extreme of circumstances (and its generally very reluctant to do so because this obviously has an adverse impact on shareholders)
Learn more:
https://www.asx.com.au/documents/about/listing-rules-enforcement.pdf
SCU Material Joint Venture, page-68
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