Ann: Formal Notification re MDL-QBL.AX, page-261

Not quite. An exploration target is an estimate of the potential of a mineral deposit, where there has been insufficient work to define a resource. It must include geological parameters and grade (or quality) - which the exploration target, as stated above does not. It must be modified as relevant by ongoing exploration work. We know they have sampled broadly in the region. We also know that the results they have released to the market relate to bauxitisation on elevated landforms in a succinct alluvial / colluvial soil unit on the flanks of Pin Gin volcano. The early exploration target was much broader in scope to cover mapped areas of weathered basalt.

So if the exploration target has no grade or quality criteria, and remains un-modified after better definition of geological constraints, then it is both non-compliant and redundant. Call that lying if you want to.