Ann: Half Year Accounts, page-26

@b!ll
Not surprisingly, I received the same response (possibly a cut and paste) .
Agree, my interpretation is that it was a "must spend" item. This comes as no great surprise, because that's how the Thai government does "business". As @canuck81 indicated, they have had the license for 5 years, so time to pony up some decent bucks if you want to keep it Mr. Roly. Agree, no 'drilling campaign' that was hid from the market. Just the cost of doing business in Thailand. Hence, probably not something you want to highlight in a quarterly update.

From the language Roly used, I got the impression that he would like to hold onto this asset i.e. no sale. But I could definitely see a 'spin-off' / IPO occurring in the future. Sheer speculation, but if you were thinking that Alcoa would make a take over offer at some point, it would be cleaner if this asset was not owned by FYI Resources Limited.

As @MaryJane55 said, this is "Not going to impact Alcoa making a positive final investment decision and that is the key game in town at this stage." I'm hoping that FID will occur prior to Detailed Engineering, and ideally this occurs by the end of the month, but a little slippage would not surprise. But hey, we've waited this long, what's a little longer! Hopefully most of the impatient people have already exited stage left.

GLLTAH!