You've missed the important part, which I did as well, until recently when I went back and re-read that 06 Oct 21 announcement.
"2. FMR completes drilling from surface at FMR’s cost for due diligence purposes. FMR will commit to completing this within 6 months of a signed JV Agreement. "
The JV wasn't signed, 01 Dec 21 "Whilst the Parties have not yet entered into a JV Agreement". Therefore the drilling at FMR expense is not going ahead.
I have assumed that Ed would prefer to increase the Pericles, Lady Shenton and Stirling (P,LS,S) deposit MRE's with extensional drilling, vs infill drilling of Yunndaga.
Maybe FMR has decided to go for the higher total ozs at (P,LS,S) deposits, but wanted KWR to commit some expenditure there first, before going down the JV route.
Time will tell eventually, but for my mind, Yunndaga production is off the table for whatever withheld reason.
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