Ann: Response to ASX Appendix 5B Query Letter, page-2

Well I see from a check of the announcement presently available on the ASX that MXR has been asked to explain itself. So out has come the litany of explanations about money from this source and money from that source etc that the BOD is just waiting to get coughed up. Some of it looks as though it might take some effort to get in so MXR may be struggling for a bit longer than the first quarter.
In fact i am beginning to wonder whether the poly metallic thing "under investigation" is a bit of a ploy to satisfy the requirements to have an actual purpose to your existence. It is handy that it is overseas and therefore can be left a little bit vague and mysterious because you don't know where to look. The Board can say that they are looking at a potential activity which could become an active project thereby having a reason to continue operations.
It seems unlikely that there will be any serious moves on the Spargoville properties until they have some serious money.
In fact that is essentially acknowledged in the announcement when they comment that no real expenditure will take place until they have the funds in place.
Oh well. So things drift along.