time for reflection i think, page-32

If we look at the wording of the placement announcement, they make the following statement:

"the Placement and SPP will be used to fund exploration activities at the Company?s Marqua Phosphate project in the Northern Territory, meet administrative expenses and enable the continued search for new project opportunities"

Where they intend to direct funds gives us an indication (and me confidence) that the Teck JV is real and happening.

I agree however that the statement confirming the deal (irrespective of the work program) is needed to build momentum.