Ann: Voluntary Suspension Extension, page-20

If we take the example of MXR we can find there an example where there was a trading halt imposed by the ASX back at the beginning of October as the company failed to get its AR in on time as well as a few other related issues. Now the AR was subsequently produced some days later but the ASX ban on trading in the shares has been maintained because it wants to see the result of shareholder voting on a proposed $3m convertible note package. 
Now as long as the ASX is dissatisfied with the goings on at VIC then it is going to refuse to allow the company to start trading again. No doubt the ASX considers that where there is any whiff of smoke then there is cause for concern so it is going to be sifting through all the relevant material and checking everything before it acts one way or the other.
IMHO any sensible shareholder ought to be looking at the history of this company and its track record of latching on to various projects that it hypes up and which are then either tossed aside or else never pursued with any serious vigour or any serious intention to work up into a viable mining activity. Be honest folks. This company has just been a toy for management to play with IMHO.