Ann: Quarterly Activities Report & 5B to 30 September 2018, page-5

$800k in admin and staff costs, says it all for this little 10million market cap company! They are paying themselves wages, that are unsustainable and reckless for a company of this size!!! From memory I read somewhere Simone Mitchell alone earns 500k a year (way over paid, with the current company's cash position and the current depressed share price). Let's look at a comparison to another company that I'm currently invested in called Waf (200million market cap)! Last quarter They spent pretty much the same amount! 837k to be exact on admin and staff costs, but they have a lot more staff on the books and are about to commence construction of a mine! At least waf can justify that 800k spend! Which sau cannot! I just can't see how this company, will be cashflow positive, even with small producing mines from South Korea, the high corporate overheads will bleed them dry! I really do like the South Korean projects, but this company really needs to drop its corporate overheads and some people need to get the sack or take a pay cut, simon included (which will never happen)! Another reason why I always liked the blue bird guys, they always take pay in shares, rather than in cash, which the company dosent have! Anyways thats my rant over.. good luck with this one! A soaring price of gold is the only thing that will help here. I just can't see this company not diluting shareholders to their death so they can continue too sustain their rediclously high corporate overheads. Cheers ST