Ann: Hamersley Study Review for Pre-Feasibiity Start, page-10

I'm on phone and can't get through previous yearly/ quarterly reports.

WFE under the auspices of Western Australia Mining regulators are obligated to spend minimum amounts of money on their tenements or they will loose their
licence.

From memory, that figure was $85k in the
first year (maybe the June 30 2018 annual report) and circa 500k in the
following 4 (maybe 5, from memory) years to satisfy the regulating body.

IMO that is why they have spent $x in the previous quarter to maintain the tenements in good stead.

It would be absolutely reckless
of the management if they lost the only asset they have or a
sinister game plan to keep the revolving wealth circulating, new
she'll company, new unicorn to chase.

What is becoming more apparent with shareholders is the tip of the iceberg, what might not be so apparent is how huge the iceberg is... more on that to come and just quietly, I am absolutely gobsmacked.

cheers