Ann: Half Yearly Report and Accounts, page-2

'During the period in which the Current Board of Global undertook its review of the Philippines Iron Sands Vanadium-MagnetiteProject, being September, October and November 2018, Global provided LIDGC (as CIS’s nominee and subsidiary) with itsrequested monthly budget advances under the existing Secured Loan Agreement of AU$26,126.26, AU$29,937.56 and$29,936.53 respectively. Total advancements made by the previous Board in July and August 2018 amounted to $53,186.23.'
Loan advances to who?
For what?
How's it going to be repaid?
And GLV's cash down to $482,062.00.
Imo, not really enough to get a look in on a vanadium project....