Ann: Security Purchase Plan, page-7

Could hardly believe these guys would issue a SPP on the pretext of Rare Earths given the negligible grades and deposit size.

I guess if the reason for the SPP was given as "we need some money to keep the lights on while we are delivering little or no income from our bauxite mines" well, I guess that would not go over well either. I'm not saying these guys will not spend (or waste) proceeds of the SPP on looking for rare earths, but why are they trying to convince themselves and shareholders that this could even possibly be commercial ? When they struggle to make any sales of anything ? When they ignore their operating bauxite mine in what I am reading is a growth market ?

As a duty of care, I hope the Board members pay very close attention to the Management. I am not being sarcastic when I question if one or more may not be competent anymore to lead an ASX listed company. Perhaps by way of explanation, the Company can issue a memo to shareholders advising why they are not currently mining our Tas bauxite deposits ? We really want to know what is going on.