Ann: M12 Drilling Completed , page-24

Of course not. All the focus has been on the glitzy, glamorous rare earth prospect. Now that that's been shown (with 80+% probability - I am not a geologist, the probability is probably higher) to be a fizzle, they'll move on to the next possibility.

It's still a highly speculative investment - more so than it was a week ago, now that we know there's almost certainly no worthwhile REE deposits down there - but the upside isn't completely gone. They may go to the sharemarket for more money to do the necessary work on those two sites; I don't know ... the latest information I have (CommSec) is from 2010, so it's out of date, and I can't comment with certainty. Hopefully the last capital raising gave them enough to cover the necessary costs at the two sites.