Received a reply from Sam the other day re: where they are at exactly with the ASX listing procedure. They view the listing as a positive driver for the company (as do I), but the terms need to be favourable, with some further decent drill results, and all need to be on board to push the button. Hard to say but it could be another 6-8 weeks before the listing occurs imo. I'm going to copy and paste his comments. Hopefully he is okay with me doing so if he ever reads these post: "Regarding the listing, we are nearing the final stages with a "final" draft of the prospectus being completed and various related regulatory items just about in place. Re formally pushing ahead, naturally we need the appropriate board approvals and before that be in communication with the largest shareholders re where the share price is before pushing the button.
Other than the admin / corp governance processes, commercially we (with feedback from the major shareholders) need to determine if the market window is there (appears the ASX IPO market is opening, the impact of the summer holiday period just finishing up and will get visibility in the next couple of weeks) and then acceptable terms (share price levels v C$4.4m in the bank at the end of December and improving geological knowledge/targeting/results).
I know various in the retail market appear a bit spooked by the Mongolian tax act (no recourse to the Australian/Canadian businesses) and think of the ASX listing as a negative share price event - re the latter, i would urge a look at what the ASX listing did to Benz Mining with its dual ASX listing.
Getting on the right market (where the assets/management team/story gets better understood), getting new liquidity and the very different relative valuations between the TSXV and ASX at the moment should all be very positive catalysts.
Us trying to sell how good the Golden Triangle in BC is on the ASX market would be an easier task than us selling the Lachlan Fold Belt in the Canadian market but stuck not being able to market the story in Canada!!
I hope that helps understand status, drivers and key concepts being worked through.
In the mean time the two rigs are punching away and permitting being advanced for both Fairholme and Nyngan to have up our sleeve at the appropriate time."