How are they going to finance more drilling?
Staff costs are $124K for the quarter?!?!?!?! This MD is taking the company for a ride. Its his retirement fund.
Current cash in bank is $320K.
How do they plan on financing any future exploration? Exploration costs for next quarter are $30K, and staff costs are $91K?!?!?!
With admin and corporate costs at $143K? Isnt this money better spent defining the resource and getting an action plan on how to rip it out of the ground?
Am I missing something....
Ann: Quarterly Activities and Cashflow Report, page-8
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