By George i think you've got it !Its a very good plan to...

By George i think you've got it !

Its a very good plan to conserve funds to ensure that the salaries can always be paid. After all that is the primary consideration.

I was curious to see how far the funds raised from Mr Vidor, would actually go. He stumped up $450,640.

Salaries for the 4 non executive directors ( i still cant believe a piddling outfit like this needs 5 directors ) totalled $197,830 last financial year. Add in a combined $566,519 ( excluding options ) for Lynda's & Tara's salary & you have $764,349. Or $63,695 / month.

So the latest cash injection will pay for just 7 months of salary costs for just a handful of people. Now that is before all the associated costs for the leasing of office space etc are taken into account. Nor does it include the cost of office admin. 

So we are talking close to or over $1M per year just to keep this circus on the road. That is before any exploration takes place. Now in the scheme of things that may not seem like a lot. But when ones share price is sub $0.01 that means in excess of 100M shares have to be issued every year just to keep the doors open.

There is no longevity in living hand to mouth.