Dear Axecap, page-30

Don't get confused and think the Halls Peak drilling was conditional upon the grant. The grant was only $90k - ignore it

SOC proposed in February to drill multiple shallow and deep holes, so they would have had to have budgeted for at least <$500k

They advised late in 2015 that $1.5M was coming in from the R&D rebate, they received those funds on 30 March 2016

So SOC has expected funds since late 2015, planned to drilled since February, been funded since March .. You'd think it's simply a matter of booking a rig and going given they had already submitted plans

Instead, just 2 days after receiving the R&D rebate they announced a $1.2M rights issue, and have proposed to acquire what can only be described as moose pasture in Nevada

I'm very curious why they wouldn't show the topography in the announcement when it was so easily available, along with the other data ? But then you have to remember, they aren't geos and maybe it was an accident. These boys are brokers:-

https://au.news.yahoo.com/thewest/wa/a/16314801/broker-admits-phoney-rumours-sources/

"Under questioning from defence lawyer David Grace, Mr Tassone agreed that brokers were like salesmen and they earned money from brokerage paid by clients.

"Hopefully they make money too," Mr Tassone said. "It is our job to convince people to buy and sell."