Pro-Palestine protesters at the ANU have accused the university of lying when it promised not to own shares in companies which make "controversial weapons".
In May, under pressure from the protesters, university leaders said its ruling council would review its investments policy. As a result, protesters who had set up camp at the centre of the campus moved their tents and banners to a less prominent site.
The move defused a tense situation.
But now the protesters feel betrayed by the ANU council's decision.
"Their announcement was a lie that we will not accept - we will not stop protesting," a statement from Students for Palestine Canberra said.
"The ANU would like us to believe that they have listened to our demands," one of the prominent protesters Nick Reich said. "They would like us to think that we have won so that we stop fighting, allowing them to maintain their stake in weapons companies abetting genocide. Well we don't buy it, and we won't stop."
The protesters refer to the Israeli retaliation to the massacre committed on Israelis by Hamas as part of a "genocide" of Palestinians. It is a strongly contested term.
Mr Reich's argument about dishonesty by the ANU was that the university leadership said it would reconsider its investment policy directly in response to the protesters' demands which were to divest specifically from companies supplying the Israeli military.
But the university instead decided to exclude only manufacturers of particular controversial weapons and not companies making weapons for Israeli use.
Its new policy is to steer clear of shares in makers of "anti-personnel mines, cluster munitions, chemical weapons, biological weapons and nuclear weapons outside of the Treaty on the Non-Proliferation of Nuclear Weapons) and/or civilian small arms".
The protesters said that this definition of "controversial" didn't include "the companies which Palestine campaigners have been calling on them to divest from, like Northrop Grumman and BAE Systems, who are key suppliers of the Israeli Defence Force and thus profiteers from the current genocide in Gaza.
"It also doesn't commit the university to ending all of their investments or discontinuing any other relationships they have with these genocide profiteers, such as research partnerships or scholarship and internship programs."
The ANU Students' Association was to hold what the protesters called a "mass Special General Meeting" on the matter.
The motion before the meeting was to be: "ANUSA calls on the ANU to disclose and cut all ties with weapons companies involved in the development and manufacture of weapons used by the Israeli Defence Force - including divesting from stocks in those companies, ending any research partnerships and ceasing all other relationships."
The pro-Palestine group said it expected "hundreds of students to turn out, and if this motion passes it will be clear that students demand nothing less than full divestment".
The ANU was asked for comment and responded by referring to a statement from earlier in the week which said: "Our university community has recently drawn attention to investment in companies that derive revenue from arms manufacture and sales. We have listened to that feedback from our community.
"We will also seek to explore further the positive social benefits that can be pursued through investment activity, particularly in relation to gender equality, First Nations-led companies and companies that manage modern slavery risks."
