Who is buying?, page-14

I have given you an appropriate proposal about the issue of scrip ie I cannot see that happening until Steam Engine gets some traction - so that the company gets some effective value, worthy of investing in.

In that way, the driller could come in at basement level SP-wise. With a MC of $100m, the driller would have missed the capital gain boat.

There is no more CEI drilling mate. They've missed the deadline for the grant.

I would be very surprised if the grant had been lost because the start and finish did not meet the original guidelines.

1. For starters, SPQ has already obtained an extension - meaning that the Govt is amenable to such a thing.
2. A big wet season then severely disrupted exploration drilling in Queensland, including the Greenvale area.
3. The grants are not a one-way street for the sole benefit of exploration companies. Whilst they benefit companies, the grants are also made for the general benefit of the people of Queensland:

"The Collaborative Exploration Initiative (CEI) aims to encourage the discovery and development of Queensland's critical mineral deposits to help meet the growing demands of the world's technology and renewable energy sectors.
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At the conclusion of activities, and following a six-month confidentiality clause, the geoscientific data from all successful programs within each round is made publicly available online. The sharing of this information helps stimulate further discovery and secure future resources for the benefit of the state."

4. These 2 drill holes have been accepted by the powers-that-be to be of such potential importance that I cannot see the grant being withdrawn in a hurry. That said, SPQ should not muck around.