Ann: S2 Resources 2017 AGM Presentation, page-5

Stormynormy:
I understand your concern in your statement: "It's a bit rich when you raise money ... and then go and spend it on the other side of the world."
In many countries if a company explained to the owners that it was to raise funds for one purpose, and then spent it on another purpose, the regulatory authorities would investigate.

In Australia, particularly with the speculative exploration companies you have to TRUST in the skill, fairness and judgement of the principal operators. Opportunities appear at short notice and the company will not benefit by telling the world about its future plans. That is life!

It is in your interest to identify the speculative companies which are run by people who try their best to give you value for your money. PEOPLE make / unmake the company, not the deposit. Sometimes you get your selection right and sometimes you get it wrong. You are speculating, not investing for a guaranteed ROI.

If you want an example of how people can "unmake" a company look back to Admiralty Resources (ADY) when it had the "Rincon Salar" evaporite lithium deposit in Argentina. The company raised money and, bought into a scam iron ore prospect, and had to sell the Rincon Salar deposit to pay its "debts". The private company that bought the deposit was based in the Cayman Islands (a location with opaque financial transactions) . This Rincon Salar deposit is now highly profitable. Curiously ASIC refused to investigate, even though one of the ex-directors has a criminal record for fraud. Perhaps there was more behind this with the US trying to get access to what it sees as strategic materials.

---- still it would be nice to spend a bit more money on Polar Bear.