If you lookup the board and execs, they mostly work for other...

If you lookup the board and execs, they mostly work for other companies or have their own companies that are providing contracts to XTC. So they raising money to pay themselves. They are mates from previous gigs, ie Pindar and Claudio from NEO Lithium.

The office is someones house in Wollstonecraft, the COO is working for another company in UK and there's contractors in Argentina with their own companies milking us dry with impact and drilling studies. It's a great scheme you wouldn't want to give this up, so what do you do when you get down to 0.002?

You consolidate 200 - 1 to take it from 0.002 to 0.4, so the act can continue back down to 0.002 again. Your only expenses are getting the glossy quarterly reports done and the odd update.

Their game plan here is rinse and repeat above until they can sell it off for profit to a bigger fish like Pindar did with NEO to Zijin.