Ann: Porphyry Copper System Identified at NSW Project, page-4

What this means and really what the company is saying is this,

Sorry to all shareholders for eroding your wealth on the Fraser Lake Complex but we have been unabe to hit targets again at Lynn Lake because we have been trying to find a needle in a haystack that is becoming very costly to shareholders and it may not be a viable project because the company is run by an incompetent BOD's who havent been able in 12 years to improve the project and therefore we need to change tack and have decided to shift the focus to another Dudley namely Mt Gilmore, we know its only a Coffee and Muffin Shop whereby there is very little value in exploring it but at least it will give the incompetents running the company the ability to continue with the lifestyles they have become accustomed to and further erode shareholder value in the future.