The company has until 18 September to comply with all requirements for continued listing. If it fails, its securities would be delisted within 30 days.
The requirements include the company’s financial condition and operating results; and the market value of its publicly held listed securities.
Buffalo Coal said it will be work with the TSX in the review process to satisfy the continued listing requirements.
The company noted that it will assess other listing alternatives in Canada if it is not able to continue with the listing of its securities on the TSX.
Buffalo Coal holds a majority stake in two operating mines via its 100% stake in Buffalo Coal Dundee, a South African firm which has a 70% interest in Zinoju Coal.
Zinoju holds a 100% stake in the Magdalena bituminous mine and the Aviemore anthracite mine in South Africa.
