The year in review Expensed the company cash flow and propose...

The year in review

Expensed the company cash flow and propose an $8.0 million outlay as consideration in the pursuit of a 6 million tonne low-grade resource (whilst already having possibly a billion tonnes of high-grade sand purchased for roughly $6.0M) in Qld with intention to attempt to upgrade a 96% SiO2 resource to glass grade sand with a complex and costly processing plant. And for this genius reward the board with 90 million options. Not proceeded with.

Appoint the secretary of the company to fill a vacancy left by a resigning Director as a measure to fill Board vacancy with the best possible replacement for the continued growth and success of the company.

Completed two minor drill programs establishing the maiden silica sand resource and extending this resource for the company (still waiting for the extension report). Promised scoping study still outstanding.

Submit a MLA and voluntarily surrender the approved EL underneath it entirely, compromising access to the ground, putting the Companies single and highly valuable asset at risk with one possible outcome being losing the asset entirely and exposing the company to litigation regarding the Royalty arrangements for the tenement.

Issue 15% of the total shares held by the company to acquire a tenement previously held, however surrendered by the subsidiary company due to problematic tenure of the ground in private property ownership.

Finish the year with an unexplained possible legal claim against the company for the major shareholders and royalty holders.

During this period the SP and market cap of the company have halved.

Now apart from the cash expensed in pursuing all these fantastic initiatives over the year, the company has paid Mr Cranston’s remuneration and Konkera $120,000 for admin and advisory services.

It has given Mr Batten a 20% salary increase back dated of course to 1^st July 2022 for all this work, whilst Mr Batten has also obtained board appointment to another company having sufficient available time obviously to provide this service to both companies.

Quite a highlights reel………..can you imagine what a bad year looks like ?