Ann: Quarterly Activities Report & Appendix 5B, page-7

Of course they intended on developing GHN.
They hired Bob Bell as the Chairman because he supposedly had great relationships with the big Japanese conglomerates and steel producers (Nippon Steel, Marubini, sojitz etc) - the idea ring that with his relationships the business could get a JV partner in the project. Turns out that the relationships weren't as good as expected, but that doesn't mean there was no plan to develop GHN.

As for the environmental stuff being done now - that is not necessarily a prerequisite for funding as Oreb has suggested. Some of the requirements are included in a BSP and the remaining requirements are often just procedural and you can begin that process after you start to extract product for the bulk sample.

Clearly shareholders have done poorly the past couple of years and management has been dire, but that is all in the price. Oreb, I am curious, you mentioned that you were waiting for the right time to invest - what exactly are you waiting for? With respect to price and/of progress, what is it that you want to see before you pull the trigger?