Ann: Massive Sulphides Intersected at Mount Hardy Cu-Zn Project, page-30

I think as a general comment that's a poorly thought through statement.

Junior exploration companies are all about blue sky and the very small percentage chance they will 1) select the right ground, 2) explore the right way and 3) ultimately make a discovery.

micro caps are nothing to do with selling or developing an asset, time and debt/equity market fluctuations or making revenue - that's a mid-tier company kind of thing - or if you like a TNG kind of thing where time delays etc are a significant issue (obviously). Yes the micro caps need access to capital but that largely comes though sophisticated HNW investors or existing shareholders rather than institutional funds.

If you're investing in this space (I mean really investing not just taking free spin-off in specie shares) then you need to understand those things or go play in the +250M market cap space (where by the way TNG should be if it wasn't for poor management and broken timelines).