AFAIK admin costs also include tenement holding costs, i.e....

AFAIK admin costs also include tenement holding costs, i.e. things such as rates and rent, so  "fairly" proportional to number of tenements held.
As well as WA staff appearing to be reduced, it is interesting to see that only one CP is shown on the sign-off, i.e for both WA and  Korea. If this is the case where is the on ground epithermal expertise coming from as I thought C. Bowden was the CP for Korean work?