Ann: Proposed Divestment of Paulsens East Iron Ore Project., page-54

RRP84 does raise some good points as to the likely situation they've found themselves in.

The low cash balance and an inability to raise they've only got themselves to blame.
- Raised $1m a year ago, with zero progress to show for it. All went to director wages.
- During the two years whilst Paulsens was on care and maintenance, they continued to have their snouts in the srk trough, whilst they were solely focused on LEL.
- Directors with a proper self interest in the company would have reduced their pay accordingly whilst the project was on hold.
- That would have left enough in the tin to cover the GII mess they got us in for the short term, until lithium sentiment improved and they were able to liquidate more LEL holdings.