Ann: Full Year Statutory Accounts, page-2

My takeaways
1. What tenements did they acquire around the Cue project. I missed this
During the year the Company continued to refine its exploration portfolio with applications for additional tenements in the Cue region
2. This is where the selling is coming from!!
On 11 October 2017, the Company completed a placement to sophisticated and professional investors of 46,000,000 ordinary shares at an issue price of 6.2 cents per share raising $2,852,000 before costs.
3. Management DO NOT have near enough skin in this game. Not one of them has purchased a single share on market. MTH sold plenty, so work out who was involved in that transaction.  If the SP performs, they need to stump up and  offer more shares to Waugh who is the one putting in the hard yards. Why would you only work for a base salary??

I agree with Eshmun, Lake Austin is the key to the longevity of this one.