Ann: Carpentaria sets strategic focus on Hawsons Iron Project, page-4

Whilst focussing on the main game is probably a good strategy, I don’t quite understand how this facilitates achievement of the Hawsons BFS.
During the quarter ended 31 March 2014, $408k was spent on exploration and evaluation and $501k on administration (latter seems high as a proportion of total spend?). Total operating, investing and financing cash flows were ($904k). Cash at the end of the quarter was $5.3M.
If ‘’streamlining of the Company’s focus and targeted cost reductions will allow for circa 50% decrease in expenditure from the previous year’’ and ‘’the Company is aiming to maintain a strong financial position’’ then how is the Hawsons BFS to be achieved? A BFS for a project of this scale could range from $50-100M spend. The Company intention to reduce overall expenditure as claimed to around $450k per quarter appears at odds with this and $5M cash is far from sufficient to complete the study.
Is Pure Metals or others going to perhaps provide financing? Management needs to explain to shareholders how this new ‘’strategic focus on Hawsons Iron Project’’ changes anything….
h