Ann: Quarterly Activities Report, page-6

Mr Sumich was king of spin and only benefitted from the hysteria of rare earths - the only hope was ECE and they gave it away to the current majority owner who has no mining background and seems to think developing a mining company is to cut costs and pay themselves with interest from cash deposits - kick a few rocks around with rock chip samples. Does she have no confidence in what she acquired. Chinese have a woeful track record on investments made in Australian mining companies.
Reporting old news and stats does not amount to anything - at least ECE backed themselves and had the people to do exactly that and the contacts for finances should they require for project financing - not holed up in Singapore !!
Something smells from this deal but ECE previously being 51% as with the current majority can do as they please.