The People Have Spoken, page-284

Could be, (speculation) they are repositioning back to being predominantly an Exploration company but haven't said as much to the market.
The large interest throughout the NT over the past couple of years in securing EL/Exploration Licences has far outweighed the previous decade of tenement applications.
It seems inconsistent with successful NTEPA resource extraction/processing applications, even more so with TO agreements reached.

On the back of the refinery shifting from Malaysia->Darwin->Mt Peake & combined with the demerger in the relatively recent past of NT assets into TRT, announcing this as a change in strategy is going to be a hard nut to crack.

But the beginnings of this is what I can see here (& there are also potentially some which they haven't listed in this table) - the ones in yellow are post the TRT demerger.

It would also be true that the more NT tenements you have to manage the greater the requirement for an experienced NT exploration manager to oversee them.