Ann: Exploration Strategy Overview - Olympic Domain Tenements, page-36

Actually - its even worse than that:

In the 4 months since Dec, when investors stumped up $9.38 mil, management has done or in the process of doing:
- Gained 80% interest in Olympic Domain tenements - their lawyers did most of this
- re-logged two holes - because the drilling and logging was pretty slapdash in the first place
- re-interpreted magnet and gravity data - geophysical contractor do this
- petrographic analysis - petrographic consultants do this
- investigated the potential of a downhole survey - a couple of phone calls and emails
- no work on Pernatty C,
- no work on Lake Torrens,
- no work on Pyramid lake,
- released and retracted an announcement about Wee Macgregor due to reliance on old data which was insufficient for JORC 2012 reporting standards.

But my main issue is not only that management are lazy, but they were still not transparent in their representations of the drilling progress, drill core and their selective use of photographs and language in the announcements from last years drilling, this allowed the market to become misinformed with the subsequent massive correction once the assays were released.