Ann: Steam Engine Resource Expansion and Mining Study plans, page-72

I agree, there looks to be illogicality to it, as you suggest.

That's how it appears to outsiders like us anyway; but to insiders it might be logical.

We don't know what's going on behind 'the green door'.

However, we do know these things:

1. Steam Engine is a JORC'd gold resource, and a minable one too given some procedural boxes to be ticked and more resource drilling. It is a proposed income stream - refer to the last announcement! 'The SEGP presents the Company with an opportunity to generate revenue in the short to medium term together with considerable upside potential to grow the Resource base to be a substantial deposit.'

2. Bottletree is a porphyry-mineralised area with long sections of copper and am incredible moly assay and that the panel determining worthy projects to financially support (CEI) ok'd a grant of $300k towards drilling what is hoped to be its core.

3. Cockie Creek has a copper resource that is in the process of being upgraded; and is also considered to be a porphyry system.

We can also guess that all areas under SPQ's control cannot feasibly be properly explored by it. SPQ is like the tail of an elephant. It can grab the gold droppings and pinch the coppery bum, but that is about it!! It's going to need help with the copper.

So, is that what the 'logicality' is all about? Lining up help by doing the CC and Bt drilling and getting the right results? Ring the bell after the CEI drilling?