Ann: Board Changes, page-33

Hi Chillicapital,
From experience, preparing ASX announcements with technical information meeting JORC requirements is an exacting undertaking at times.  The information that we base our geological interpretation must be included (this is that boring bit called table 1 and 2 most people gloss over).  The ASX are becoming more strict in enforcing the JORC reporting requirements - sometimes past the point of sensibilities - but there is an underlying checking of the info.
This means that the assets are real, but exploration has a typical success rate of about 1%.  I totally agree that some of the targets need drilling, and starting the drilling yesterday would have been a nice start as well.  Other targets might actually be better served by doing more basic geology and geophysics - not sexy for the share price and the investment community as a whole don't improve the value of the shareprice, but by doing the right steps in the right order does improve your chances of drilling in the right spot .
And finally some time during the exploration cycle we just have to accept that the target we loved and spent time on has just rolled over and played dead and we have to pick up our lower lip and go onto the next target and see if we can kill it instead
On a personal aside i would be happier if the ASX actually employed geologists to review the JORC announcements but apparently lawyers are good enough