Ann: Wallbrook Exploration Target & Mineral Resource Estimate, page-114

Irrespective of the different claims being made around why the company has delineated a smaller than expected MRE, what are the next steps in delivering a clearer strategy to investors for what happens next?

The charitable way of looking at it is that there is some kind of dance going on with NST, which makes ambiguity necessary. Maybe this is the problem of having such a singular suitor.

This can’t go on forever, though. At some point they are going to have to lay out a plan for how the next phase (exploration in Victoria and WA, presumably) is going to be funded. And if that means a capital raise at current share price levels, it’s hard to see the last 12 months as a success.