Be interesting to hear what you come up with big finn. Note 18...

Be interesting to hear what you come up with big finn.

Note 18 in the 2018 annual report explains the write off:

The exploration and evaluation asset balance relating to the mining tenement EL 7301 is NIL as at 30 June 2018 (2017
$1,651,687). The mining tenement EL 7301 expired on 23 February 2016. Application forms have been lodged to renew
and transfer the tenement from Volcan Australia Corporation Pty Ltd to Queensland Bauxite Limited (“QBL”) for a
further 5 years to 23 February 2021. This process has not yet been finalised with the NSW Department of Industry,
therefore the exploration and evaluation asset has been impaired during the financial year end 30 June 2018.

Just raises more questions. Were they attributing a value to an expired tenement for years? Or has it really expired? Either way it's very odd.