"Read all the past quarterly statements to see what and where...

"Read all the past quarterly statements to see what and where funds have been spent"

does that mean you don't know?

commodoties boom has been and gone while SRKs iron ore project has been at a standstill for years

Why hand over cash in loans? Is there any evidence of it being spent on anything to advance projects? Has there been any progress with the locals in years regardless of ownership?

large capex required, no guarantee of a partner

share price destruction considering how much cash they were sitting on

it's either a great buy here or more funds needed and wait for the next commodities boom with 100% ownership