Developing phosphate interests in the Georgina Basin, Queensland, Australia

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Message: From the 10Q - Dillution?

As future exploration and development activities will require additional financing, the Company is pursuing varying strategies to accomplish this including obtaining third parties to take an ownership interest in or to provide financing for the development activities related to the phosphate project, as well as capital raising through share issuance. In the event the Company is unsuccessful in raising such additional capital, it may not be able to continue active operations.

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