A valid statement if it occurred in the present situation and financial state of the industry but at the time the Company was well financed with $28 million from the sale of tenements, $11 million commitment from Sinosteel to carry out further exploration in the Curnamona area which they are still working through, the dividend was just a small proportion of their assets at the time. As good managers they built up assets such as their drilling rig, trucks and mobile accommodation as well as the PR work with their shareholders. These assets now allow them to carry out exploration frugally.
A valid statement if it occurred in the present situation and...
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