amer,Not an accountant.. but..Income from UK was...

amer,
Not an accountant.. but..

Income from UK was $1,090,538

Salaries of chiefs was $417,216 in total.
There was another $200k to Wilkins and OShannassy.

These guys get paid as consultants rather than employees as such. This has legal benefits to them as they are taxed at corporate rate and have some protection, albeit it is harder to get cash out of a business.
No options issued.

Depreciation is an accounting note really.
Any assets owned can be depreciated as per ATO schedules etc, it does not change the asset but does change the value on the books.

Exploration costs written off generally relates to an oh dear, money down the drain. Need to get it off the asset register. Again not an abnormal thing, just in this game it is substantial numbers.

As raised earlier the real issue is Corporate expenditure, Administration costs and salaries. Running a business is expensive but this looks too high imho.

Increase in salaries is, in hindsight, not good karma and they should review this (a few other companies have dropped theirs (not necessarily making me rich either)).

I agree with others that a farm down in Nyuni is critical and better than selling it imho.. But it would raise a decent amount of cash..