Ann: Full Year Statutory Accounts 2017, page-6

IA, your conversations with James do give some insight. The porphyry should be treated as an asset they can sell or borrow or lever off with JV because they don't have the means to develop it and utilize any cash flow to develop the lithium. As you said, James indicated they would like to keep that for themselves.

That in itself is a strong statement and sometimes it is what people don't say that reveals the story and they can't be pinged for breaching any rules down the track. Its lithium for me, so I am interested how the capital raising is applied. It may mean some funds will be diverted to legitimately promote the porphyry in order to unlock the lithium. This will require patience to get the big reward when boots on the ground have down their work.