Ann: Investor Presentation, page-22

Don't know why you're getting so worked up, if you're familiar with mineral exploration plays on the ASX then you should know that they go off the smell of an oily rag, ALY has an industry leading corporate expense/exploration ratio. So if this was just a lifestyle company than they're not making any coin off it. Every $ raised a bulk majority of it goes into the ground and that's clear from the quarterlies. So as far as longevity is concerned you're getting pretty good bang for your buck here. A great deal of drilling is based on luck and so far I think Leigh is doing good work with the resources at hand, unfortunately we just haven't had any yet. But this thing is so tightly held by the T20 that a promising hit will send it flying.

For instance, we have holes in the ground at overflow. Find me one other company that has managed to deal with native title access hurdles and do the same in the area recently.

And if finding commercially viable mineral deposits was so easy then why don't you take your investment and buy a shovel. Clearly you know more than they do about this game.

ALY SP has held up pretty spectacularly in light of recent macroeconomic events, other plays were kneecapped ~30%+ but not here.