Ann: June 2018 Quarterly Activities & Cashflow Reports, page-3

Bizzare though. One minute they are getting ready to drill at Saxby...any moment now...just waiting for the weather..its a bit muddy after the summer rain... and then they have given up and are looking to farm it out without any other explanation. Then Myall Creek has suddenly popped up again, but not the area they were originally going to explore, rather an adjacent lease they acquired from St Barbara. Oh, and by the way we might have a whole new exciting project to announce soon..

I've held since the Eagle Bay days, partly because they delivered value (initially) via the VXL spin-off and have potential through Ionic, but also because Myall Creek does hold some promise, and the inital Cultana lease had a massive geomagnetic target (that proved to be magnetite, not surprising given its proximity to Whyalla!). Meanwhile I'm still waiting for them to drill the area that they spruiked so enthusiastically so many years ago now, and got some time for the MD to cool his heels. But I do start to get the feeling that maybe instead we are lining the pockets of a family business that is less focused on finding something that just delivering a constant flow of management and directors fees? The announcements are very poor, and don't even try to explain what is the logic behind decisions to jump from one area to another without ever having a focus on seeing a campaign through.
Just get in there and blow my dough on Myall Creek in a decent campaign. Break or break through, I don't care, just give it a decent go for once to justify the management fees and long lunches at Eagle Bay!