Crystallex International (TSE:KRY) said on Thursday it has received a letter from the Toronto Stock Exchange in regards to its eligibility to remain listed, after the securities operator raised some concerns about listing requirements.
The company said the securities operator scheduled a meeting on December 5 to mull over whether to suspend or delist the company’s shares.
Last month, Crystallex received a letter from the compliance and disclosure department of the TSX, and requested the gold miner to provide information about its operating activities as part of a fact gathering mission tied to its “continuous” listing requirements.
That letter stated if the securities operator verifies that the company has discontinued a substantial portion of its business, the company will be required to meet the original listing requirements of the TSX.
However, if Crystallex fails to provide an acceptable plan on how it plans to meet the original listing requirements in the short term, the TSX would start a delisting review.
On November 11, the company provided its response and a plan to the TSX regarding its efforts to maintain compliance and remain listed.
The company said in a statement: “There can be no assurance that the company will be able to meet the original listing requirements and may be delisted. Management is evaluating alternative listing options.”
Crystallex shares trade in the US on the OTC, or over-the-counter market.