But management have made good coin on this for years have they...

But management have made good coin on this for years have they not?
In that event one can view it as just a fraction of shareholders' funds paid in management fees going back in.
At the moment this looks more like a feel-good lefty good will venture : 'doing things right', we drill it, you dig it.... than a company determined to protect its license and deliver a return for shareholders.
At least I only got in the mid 4's.. due to the pre-cap raise pump and dump algo painting a few green candles to that end..... only a quick 40% loss in a matter of weeks. I can only imagine the wrath longer-term shareholders are feeling. This needs a management refresh IMO, but I have been around long enough on the ASX to know it will probably never happen.