Significant re-rating on horizon, page-64

I am of the view that it has already had its "nearology" run, which is what caused the price to go from 0.006 to 0.03 (intraday high on 14 November) in about 2 weeks in November 2017 during the heat of the Cobalt boom. This lead to ASX "please explain" letters due to it misrepresenting in its initial announcements how near - in terms of distance - its tenements actually were to the projects of other companies.

Nearology wont do it any more, as it now needs to show that it has ore just like AUZ and CLQ have shown. But without cash to fund a drilling program it can't do that. Nine months of "fast tracking" the development program through a few guys reviewing historical results and topography maps over cups of coffee and releasing that as new news to the market wont be enough for the market this time around it seems, which is why it is now trading back at 0.008.