Ann: Quarterly Activities Report , page-29

Isn't that the standard way for Perth companies to transfer asset ownership? ie get shareholders to stump up huge capital to progress a reasonable project and then shelve the project at an opportune time when ST markets are against it?
Then when bank accounts are close to empty, write off the asset completely to take the shareholder register to the point where they don't support management and wont kick in more cash because they have burnt 99% of their capital, and then using the rationale they cant get more money from current shareholders, they don't do a pro-rate placement for a new project choosing a huge low priced dilution instead, then a year or two down the line reverse the write down on the original asset because 'fundamentals have improved'?