Hi everybody. I decided to check directly with ASX and this is the answer I got....
"When a company is under suspension there in no trading allowed, including selling to a third party via an off market transfer"
So it seems the only option is delisted, but you have to forgo all of your shares, can't do a partial sale to them (to create enough of a loss that's needed) and keep the rest of the shares yourself with slight chance of re-listing.
BIG Price at posting:
$2.22 Sentiment: Hold Disclosure: Held