There was no intention to mislead, and in fact the NR you attached here was the first link that was in the message I copied.  There is no doubt that SPQ and KWG will spend the exploration money over the next 4 years.  In fact, they will likely have the bulk of that spent by the time the drilling program concludes this spring.  That is the majority of the money.  The feasibility and project financing will be easy if they find something big - the majors will be all over them trying to buy the JV out :)

IMHO as always