Ann: Quarterly Activities Report , page-2

I cannot understand why the admin expense is so high with this stock?? For comparison, Iron Road, which is developing a multi billion dollar Iron Ore project also spends around $700k a Q on admin.

However they have a head office with many staff members, are burning through $25m+ a Q & have developed the project close to the stage where by they are close to an investment decision. I can understand them having a largish admin expense


But ours? Where are our admin expenses going??? We are spending almost as much on admin as we are on exploration and evaluation.