You don't currently have a tangible asset? it's a land area that...

You don't currently have a tangible asset? it's a land area that you haven't spent any cash on exploration.

AVQ was awarded SJ in March 2015 and from than they still spent cash on exploration on Santa Isabel (Kolosori) during the CoA, look at the financials and amount of cash they have spent since then, 3.5M AUD only last quarter when they could have spent this on the drilling at SJ over a year ago to develop their "tangible asset"