Hi Whalewatcher,
It appears that the company has spent an aweful lot of money over the past four years to measure down a resource.
At the rate they are going, they will have their $100,000,000 processing plant under construction, with a spare $10 in the bank, 350,000,000 shares on issue and, a measured resource of 15MT at 0.7% - all by 2014.
I am... SirKnight! And I have seen the light!