Ann: $2.5m Placement to Accelerate Drilling at Equador Project, page-99

Nope they were being deliberately misleading.

They clearly stated "How many tonnes of overburden are there in the average iron ore mine? Millions of tonnes!! And that ore is barely worth $100 a tonne! Imagine how much they could care less when the ore is $40,000 a tonne."

Which is FALSE.
WA1's 1% grade is worth under $1000 a Tonne as it still needs processing to be separated.

Stop cross-promoting your garbage here.

The money has been made on WA1 it will now need endless raises,
As it will cost well over $1.5 billion to ever get it anywhere near Mining Stage.

It still needs much more drilling to even get a proper MRE,
let alone the endless other issues and expenses to be overcome....

As WA1 itself clearly stated:
"The Competent Person has classified the Mineral Resource in the Inferred category
in accordance with the JORC Code (2012).

Geological evidence is sufficient to imply but not verify geological and grade continuity.
It is based on exploration, sampling and testing information gathered
through appropriate techniques from drill holes.

It is reasonably expected that the majority of Inferred Mineral Resources could be
upgraded to Indicated Mineral Resources with continued work and studies"

Here is the definition of Inferred:
infer: to form an opinion or guess....