Ann: Quarterly Activities Report, page-41

There's a reason why the report kept mentioning the 520,000,000m² of 100% owned Lithium property which has been renewed for the next 2 years: the renewal costs would have just been paid as this is around the time they expired as per the prospectus. If that number isn't powerful enough here's a picture of just one of them: View attachment 1213650
For reference little Nemaska next to it is a 37Mt at 1.40% proven + probable reserve which secured $1.1B in financing and will be producing next year...

Of course this decision is already done and set for the next 2 years, but retrospectively looking at this decision and the associated costs of holding this much land it is clearly a long term, controversial play. I can see understand why some people could be unenthusiastic: If I was planning to flip quick profits then cash being spent on future projects that are currently largely unknown/unappreciated then it does me no favours in terms of what prices I'd be able to get if I sold up right now before their value was realised. Personally I see this land appreciating in value from both success of adjacent operations (many are TSX listed so many ASX investors don't even know of them) and my own Lithium/Cobalt outlook which is why the extensive package of projects even before further acquisitions looked tasty to me.