Ann: Trading Halt, page-3

More importantly, we now own at least 25mt of manganese at 10%, so 2.5mt of contained metal at Flanagan Bore.

BCA still has to spent another $2.5m to achieve the 75% earn-in on their j/v with CWX. There is still scope for a much larger resource to be uncovered at no cost to CWX.

This is only one of 3 j/vs in the Pilbara. The company still has tenements up there which they will probably also j/v out rather than spend cash on, so they can concentrate on the gold projects.

Then there is the nickel j/v with IGO.

Yet people still want to give away their shares for 21c.