The following is taken from qtrly update and working capital report (App 5B):
"OPERATIONS – EXPLORATION, EVALUATION, AND DEVELOPMENT
During the quarter Korab Group continued exploration and evaluation of its mineral assets, as well as the progression of the Winchester Magnesium Deposit to production."
1. Cash flows from operating activities
1.2 Payments for (12) (a) exploration & evaluation (expensed) $0
(b) development $0
So we have a statement BY THE COMPANY it is continuing exploration and evaluation of Winchester magnesite project.
THE COST FOR ALL THAT EFFORT IN THE PAST QUARTER WAS . . . . $0! Nothing was spent on it according to the KOR 5B.
I leave it to the reader's imagination as to what's going on . . . Any views?
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-2
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