here is my break down of the $500k - $48k exploration + $93k...

here is my break down of the $500k - $48k exploration + $93k wages + $358k to directors

What about the fees for placement? Here's the details they gave in the prospectus:

Proposed Use of Funds Amount
Halls Creek Project’s exploration expenditure 2016/17 (budgeted) and 2017/18 (anticipated) and associated holding costs Approximately $400,000
Cosmo Newberry’s exploration expenditure 2016/17 (planned) and associated holding costs Approximately $150,000
Ongoing working capital, contingencies and unplanned exploration and operating expenditure $425,955
Costs of the Offer (excluding Underwriting Fee) $80,000
Underwriting Fee $53,241
TOTAL $1,109,196 *

So where have they taken the money from for director payments? And how will they cover the expense? Placement next quarter at the latest for sure.