The wages being paid to Boadicea staff are very low when you...

The wages being paid to Boadicea staff are very low when you compare them to other "nearology" hopefuls such as Sheffield and Matsa. BOA has identified 13 priority 1 targets and 9 secondary targets to follow up.
They will methodically carry out further tests and survey work to identify the best targets before they drill. It is not as simple as driving a drill rig out onto your claim and start drilling - native title clearances and other approvals have to be in place first.

The location of BOA's leases is the best of all the hopefuls because they lie on the same North-East trend as Nova and Bollinger. BOA also has very limited shares on issue. ATM they have 45.8M shares of which 19.6M are in escrow until October, 2014. The top 20 shareholders control 76.4% of shares on issue - this means that just over 10 million shares are in the hands of the public.
BOA has more than $2M cash available for their exploration but if they spend it all they will have to raise more funds through share placements which would dilute existing shareholders' values.
If BOA can come up with just a few metres of nickel sulphide in any of their exploration holes, the share price will explode to more than $1.00 and could go much higher. If they were lucky enough to find another Nova or Bollinger, the share price could easily be north of $10 or $15 due to the scarcity of stock available.
Only my opinion but I think BOA is a stand out spec stock at current price levels - there are not many junior explorers around at 15 cents who have the potential to go to $15.
Shallow drilling has already indicated promising geology and low nickel values and with 22 targets to follow up, there is a very strong chance that at some stage a few metres of sulphide will be found. That is when you will have to fasten your seat belt. In the meantime shareholders will have to remain patient and trust BOA's management.
Cheers and good luck.